Best Balance Transfers Discussion Area

macazone

Hi

My wife and I have 2 credit cards between us. Can we transfer the balances on both cards to a single Barclay card ie 0% interest on balance transfers for 19 months that Martin in his newsletter today?

Cheers Rob

nikita123_2

Small businesses are often more in need of custom software development than larger companies as the needs of larger companies can be met by corporate software systems such as ERP (or so the vendors of such systems would have the larger company believe!) but the needs and quirks of the smaller business remain unaddressed in the main.

scott_lithgows

cm8032 wrote: »

Help and advice needed, please!

I've got debts totaling £12,700 over four credit cards, each card charging between 16.9-19.9% APR. I can cover the minimum monthly repayments without a problem and usually have £300 - £900 per month to put towards reducing the debt.

I want to get as much as I can of the debt onto a 0% deal so that I can stop it growing while I pay it down as much as possible. My problem is that I doubt any one card is going to offer me a high enough credit limit to cover the whole £12.7K. The highest single credit limit I currently have is just over £7,500.

My main current account is with Nationwide. I have a N'wide credit card on which I owe just over £500: this is the smallest of the four debts and also the card charging the highest interest rate.

I also have an Egg card and an Amazon (Bank of America) card, on which I owe around £5K each and the rest is on a Post Office card. If at all possible, I'd like to continue using the Amazon card for spending because we find the Amazon reward vouchers very useful.

Finally I have an unused Capital One card (£0 balance), which used to be my main spending card until they made me cross about something and I wound it down.

What would you recommend I do? I'm conscious that the best 0% deals out there are Barclaycard, but I'm not sure if I'd be able to transfer the Egg card debt to that any more since I think B'card has just taken over Egg credit cards?

I'm thinking BT the N'wide, PO and Amazon debts to a B'card deal if they'll have me, and BT the Egg debt to Virgin? Do I need to close the Cap One card too?

Only keep Cap1 if its your oldest card.

Fire any overpayments at card with highest rate.

Keep in mind RBS/Nat West for an 18 month deal.

Keep Post Office if you go foreign hols.

Show no loyalty to Amazon card,you get rewards wi Tesco,Sainsbury cards and 0% for a year and over.

clawhit

Extremely disappointed with Halifax and Barclaycard applied for 0% balance transfers and I have an excellent credit history and was approved for both cards however they both decided to change the rate on what I was offered 19 months Barclaycard and I got 14 months instead and 17 months Halifax went down to 13 months - it's lovely that they advertise these deals but in reality just change it anyway once people have applied. Barclaycard couldn't tell me why they had changed the rate and just told me if I was that bothered I could close the account and reapply but once again it couldn't be guaranteed.

u87

hi guys, forgive me if i have posted this question in the wrong thread, but I have read up the articles on the site about credit cards but need some help. i am interested in a card which lets you make a big payment into your bank account, i can see that the Egg Money Card used to let you do this, however, this is not available anymore. Does anyone know of a card which lets you make free cash advances for an introductory period. If not, any recommendations about the cheapest ones on offer? I do not have any credit cards with outstanding balances so I believe I am not eligible to do a balance transfer. thanks

u87

u87 wrote: »

hi guys, forgive me if i have posted this question in the wrong thread, but I have read up the articles on the site about credit cards but need some help. i am interested in a card which lets you make a big payment into your bank account, i can see that the Egg Money Card used to let you do this, however, this is not available anymore. Does anyone know of a card which lets you make free cash advances for an introductory period. If not, any recommendations about the cheapest ones on offer? I do not have any credit cards with outstanding balances so I believe I am not eligible to do a balance transfer. thanks

sorry for another message guys, but i have been doing more reading through the posts and the overall consensus seems to be that advancing cash on a credit card looks really bad and has an adverse effect on your credit rating. my problem is that i would like to borrow approx. £3k for about 3 months for family reasons. after this, i am very confident that i would be able to pay all this of in one go. unfortunately, i already have two loans under my name and i have not been accepted for another £3k loan. i have tried asking friends for this loan as well with no luck

Could someone kindly guide me to what my best option would be? Many thanks

offcumden

Duplicated Balance Transfers Coincidence ? Has anybody else Had this Experience
On sunday I attempted to transfer an AMEX balance to Santander online the transfer apparently failed and I was prompted to re-enter the details. The second attempt also failed apparently as Amex only have a 15 digit code not a sixteen digit code which appears the norm. Later in the day I checked my Santander account only to find that they had debited the account twice incurring two transfer fees.




Earlier this year I had a similar instance with Barclaycard where they duplicated a transaction again due to computer error, in their case they told me that they could not recall the transaction and told me to get onto Natwest to transfer the duplicate transaction back
On each occasion the first two transactions have gone through, each time the third has failed and prompted me to re-submit, on doing so the second attempt has failed despite there being sufficient balances to cover the transfer as both banks subsequently processed the duplicated transactions puting the receiving cards into credit.
Has this happened to you ?
If so how have you handled it.?
Since I started transfering balances to 0% competitors cards the original card companies are mail shotting me with 0% offers.
What they don't know is all the cards are cut up so I cant spend on them.

MartynTP

There are so many messages and forums here I could not find the answer to my particular question. . . but perhaps someone out there knows?

I'm getting married next year so as I had a zero % balance transfer on an MBNA card I've got I though I'd put the £4,000 deposit for the venue on a Sainsbury's credit card I had and then balance transfer it to my MBNA. I did this and continued to use my MBNA card for normal retail purchases, at the end of each month I paid off my retail purchases in full and a bit off of the original £4,000 as well. I made the assumption that as I was doing this there would be no interest charged. MBNA are charging me interest and are saying that because the existing balance is there they are charging interesting on all the retail purchases until the complete debt is paid off.

Some of you may say that I could simply pay off the retail balances, leave the card alone and use the Sainsbury's one. . . yep I could do that but I'm also saving points (it's an American Airlines MBNA card) and I've nearly got enough for two flights :-).

I would not think what MBNA are doing is probably wrong but it does not seem in the spirit of the legislation that changed recently on interest payments. . . . I'd certainly be interested in any advice from the forum members.

Thanks
Martyn

thenudeone

rzsanci wrote: »

Basically my question is I have a HSBC credit card and if I apply to a 0% Barclaycard and transfer all my balance will I still be able to use the HSBC one if I need it? So does it mean my HSBC will be paid off fully and I potentially could use the full credit amount while paying off the new Barclaycard?

Thanks

The HSBC card will remain open and you can use any remaining credit limit. Transferring a balance does not automatically close the account.

But now that you have more borrowings elsewhere HSBC could review your limit and reduce it if they thought you were over-exposed.

thenudeone

u87 wrote: »

i am interested in a card which lets you make a big payment into your bank account, i can see that the Egg Money Card used to let you do this, however, this is not available anymore. Does anyone know of a card which lets you make free cash advances for an introductory period.

The egg money card was originally called egg blue and was a hybrid credit card and savings account (!) which is why it allowed transfers to a bank account. I don't think it allowed free transfers if you didn't have savings to transfer.

You need a "Super Balance Transfer" card.
Have a look here: http://www.stoozing.com/sbt.php
None of them are free. the lowest fee is 1% though M&S travellers' cheques.