Best Balance Transfers Discussion Area

sabretoothtigger

you may do so

darwood_2

Hi sabretoothtigger, were you answering my question by saying "I may do so" meaning I can buy something on old card now and transfer it to my new one ? Thanks.

annibee

digreenwood01 wrote: »

Hi there,
My partner's currently paying off debt on a credit card. I'd like to help him out so that he pays it off quicker, but he's got quite poor credit history so can't get the 0% balance transfer cards. Is there a way that I can open a card in my name and shift his debt across, or a way that I could act as a guarantor so that he could get a card approved? If either of these are possible, how would it affect my credit rating?
Any advice would be much appreciated!
Thanks.

Thats exactly what I am doing.....:beer:

Yeh you can transfer any balance it doesnt have to be in your name obviously it will affect your credit rating so think it through first. If your making the repayments and you dont miss them though personally I dont see it as a massive deal :cool:

Dont know about the guarantor biz probably better just doing the 0%

but remember itll be judged on your credit (and possibly his if you have any joint accounts) so if youve never had credit before your limit may be rather low and not enough to shift a whole balance (one of the problems we have run into recently!)

HTH

If I have anything wrong please feel free to correct me anyone

sabretoothtigger

darwood wrote: »

Hi sabretoothtigger, were you answering my question by saying "I may do so" meaning I can buy something on old card now and transfer it to my new one ? Thanks.

yep but why not check with the company yourself.

monique1

Hi I have a 2500 ovd with halifax and paying extortionate rate of 1pound a day need to move hte debt to 0% HELP

developer_2

Santander will only do BT's in the name of the card holder - we've just been caught out by this one - so had to add my husband as a secondary card holder to the card we were transferring the debt from.

footballfans88

beneficial content articles!thanks!

meher

I learnt something today; thought I'll share it here. Am pretty sure someone who's clueless like me will come along. Whilst these balance transfers is one fine idea of moving about an shifting about, you really need to check for how long you can have the balance transfer interest free. Most of them charge you round about 2-3% fee for the transfer which is fine but many cards expect you to pay off when they send you the next months statement; if you don't, then you start getting charged unless it's specified.

The confusion is when they highlight that you have 0% for the next 16 months purchase, you forget that the balance transfered would still be charged. Please feel free to correct me if I'm wrong.
I've been drawing graphs and studying all this :snow_grin for the sake of it because this clever op has been inspiring.
So it's very important that we go in detail before relying on any and applying for one.

Halifax clarity card offers free balance transfers but you need a high income and spending power to get hold of the card and benefit from it. If you have income other than being in employment like rent or any other income you might be eligible - you'd need to let them know that when you apply or you'd be rejected if you simply say unemployed or on low income. Then there's the american airlines amex card that charges only 2% fee and it's 0% for 6 months. Only these two cards interested me btw.

Fumbducker

AVOID Virgin Money
We BT to Virgin Money, turned out to be MBNA.
Missed 1st payment by 1 day and consequently charged:
£12 late payment fee
£70 interest
loss of promotional interest rate, now on 29.9%

Matty007

Been offered balance transfer rate of 0% till August 2011 or 1.9% till December 2011.

Looking to transfer £10000.

The balanced would not of been paid off in August, however finding another deal with any 3% fees in August is not guaranteed.

What are your thoughts.

Regards
Matty007