Best Balance Transfers Discussion Area

katieb168

Hi thanks for the replies -
Moggles - I have just the one credit card - with HSBC. It explains why I couldn't get a card with Marks and Spencer then! Thanks for that - didn't realise.
King Weasel - Thanks for that too. I was just wondering if I apply for a card wanting to transfer my balance, and then get turned down or offered a lower limit this may affect my credit rating, as I will be applying for more credit . Basically I want to know I will be accepted before applying - guess that may be too hopeful so maybe I should look for cards for those with poor credit rating?

Kate

YorkshireBoy

katieb168 wrote: »

...I have just the one credit card - with HSBC. It explains why I couldn't get a card with Marks and Spencer then! Thanks for that - didn't realise.

For future reference...

Who owns who

Moggles_2

katieb168 wrote: »

If I apply for a card wanting to transfer my balance and then get turned down or offered a lower limit, this may affect my credit rating, as I will be applying for more credit . Basically I want to know I will be accepted before applying - guess that may be too hopeful, so maybe I should look for cards for those with poor credit rating?

There are several cards aimed at applicants with a poor credit rating, but none offer their customers interest-free balance transfers.

Fortunately, there are ways to improve your chances of acceptance. For tips, which apply equally to all credit cards, I would have a look at the *Credit Rating* articles on the main site, in particular, Martin's *Manage and Improve your Credit Score* article, before you submit your next credit card application.

IMO, it's best to keep your options open and leave the balance transfer section of your credit card application blank or, if asked, state you may be interested. (Please see #365 below.)

Moggles_2

Is it best to put the balance transfer request on the credit card application or leave it until you receive the card?

It's best to keep your options open, IMO, and leave the balance transfer section of your credit card application blank or, if asked (over the phone for instance), state you may be interested.

Of course, you might want to commit yourself to a BT if you believe it could influence the credit limit eventually offered.

Personally, I feel any possible advantage gained is outweighed by the disadvantages. An horrendous story involving LTSB and Capital One was posted on this thread last year. Incompetence on this scale is fortunately rare but, for peace of mind and to avoid unwanted partial transfers which are difficult to reverse, I would wait until safe receipt of your card & credit limit. Then request your BT(s) by phone when you call to activate your new card. There's usually a Freefone number for this

funky04

Do Britannia bs allow bal transfers to Egg money card?

YorkshireBoy

funky04 wrote: »

Do Britannia bs allow bal transfers to Egg money card?

I'm assuming you mean balance transfers from Egg Money to Britannia, ie to create a positive balance on Egg Money?

If so, the answer is yes, although anecdotal evidence suggests that there are problems when actioning the request from your Halifax secure area (anti-stoozing measure?). Telephone requests go through without a hitch.

hood

Does anyone know which cc accepts loans as bt's, The only 2 I know that do are egg card and virgin card but there must be more.....any ideas ??

YorkshireBoy

hood wrote: »

Does anyone know which cc accepts loans as bt's, The only 2 I know that do are egg card and virgin card but there must be more.....any ideas ??

Super Balance Transfer (SBT) cards are identified by a 'red dot' in this table...

http://www.stoozing.com/0fees.htm

christie81

I am thinking about transferring my balance to a card offering 0% interest and have read that you shouldn't use the card otherwise you could end up paying more.

Can you STILL use the card that the debt has been cleared off or should this be avoided too?

L40NAS

Great Article This