Best Balance Transfers Discussion Area

Gino-Ginelli

Hi first post here but only because of a call I just had with Lloyds which left me thinking "Where is the catch?"

During a bit of phone banking Lloyds offered me a credit card deal, like they always do, but this time the deal seemed so good I can't believe there isn't a catch and I can't see anything about this deal on here so am asking if anyone else knows of it or has more details.

Transfer a balance of £1500 or more to Lloyds, with a 3% transfer fee and they will half the debt on the card. I was told verbally my credit rating looked good enough to obtain a 0% introductory rate before 19% applied later on (I assume 6-12 months but forgot to ask).

But surely banks aren't that generous to half your debt in exchange for custom, especially Lloyds? It seems too good.

swifties

Hi Gino Ginelli,

I just had a quick look on the lloyds site, it appears that they will half your transfer FEE if you transfer 1500 or more.... Oh well,

Steve...

shopaholic06

Hello,

Firstly if I've posted this in the wrong section please can someone tell me where to post it? thankyou.

I've had a Santander credit card for 14 months, interest free, never used the cards, just had for interest free purpose, I transferred the balance to Natwest a few weeks ago & Satander have now charged us interest of £33.00, the interest period is now over but we paid the balance in full, so therefore, we can't understand why we have been charged interest. can anyone help please?:)

Thankyou

Lisa

molley

swifties wrote: »

Hi Gino Ginelli,

I just had a quick look on the lloyds site, it appears that they will half your transfer FEE if you transfer 1500 or more.... Oh well,

Steve...

So it WAS too good.....slight difference between halving your debt and halving your BT Fee

ILoveChocolate

Hi Everyone,

Please can you give me some advice. I have £8.5K a lot on virgin at a high interest rate but they are offering 0.00 balance transfer until May 2012. I have a Halifax card with a limit of £500 on it 3% for balance transfers and 18% interest rate, still less than virgin. What I wondered if I could do is transfer just under £500 to Halifax then in the same month transfer the sum just under £500 back to virgin and then it would be on 0% would this work also could I do this a few times to get some on my balance onto 0% rate. I lost my job and cant apply for a new 0% card although I really need to just about to sell my car to get some money to pay off some of my card, any advice please.

Many thanks.

Beverley

Well you can do it but it will cost you the interest rate to do it each time. The Virgin 0% balance transfer rate will still incur a transfer fee which is something you need to figure into your equation.

mury

I have £2000 on my MorganStanley card (MS) and £1500 on my Barclaycard (BC). Both companies have written to me with Balance Transfer offers.

Therefore can I transfer the £2000 from my MS card to my BC card and start paying the 6.9% interest until paid off (that's the offer) and then once done transfer the current £1500 from my BC card to my MS card and take MS up on their 3.9% for 5 months offer?

I'm a little confused

Beverley

mury wrote: »

I have £2000 on my MorganStanley card (MS) and £1500 on my Barclaycard (BC). Both companies have written to me with Balance Transfer offers.

Therefore can I transfer the £2000 from my MS card to my BC card and start paying the 6.9% interest until paid off (that's the offer) and then once done transfer the current £1500 from my BC card to my MS card and take MS up on their 3.9% for 5 months offer?

I'm a little confused

You can but you'll probably find that the the MS offer no longer exists by the time you've paid off the balance on the BC.

thenudeone

shopaholic06 wrote: »

Hello,

Firstly if I've posted this in the wrong section please can someone tell me where to post it? thankyou.

I've had a Santander credit card for 14 months, interest free, never used the cards, just had for interest free purpose, I transferred the balance to Natwest a few weeks ago & Satander have now charged us interest of £33.00, the interest period is now over but we paid the balance in full, so therefore, we can't understand why we have been charged interest. can anyone help please?:)

Thankyou

Lisa

If you paid off the balance (i.e. they RECEIVED THE FUNDS) within the interest free period from account opening AND there were no other transactions on the account (such as purchases) there should be no interest charged. Check the terms carefully then query it with them.

robo999

hi there guys , quick one i know,
Whats the best current deal for a balance transfer of around 1K .