Best Balance Transfers Discussion Area

paulmounce

I have read a few of these posts and have been conned by barclaycard like the rest of you. I look around the web and the news and they are getting so much publicity about their longest ever card....but I bet very few people actually have received it.

When I spoke to an advisor and subsequently complained they all said the same thing, we offered you a different card. and yet their website is offering the two year card still.

my card has a limit of £15,000 and they have accepted all of my balance transfers, so answer me this? why can they not offer me 24 months.

there is only once answer - so they give me less chance to pay off so that they get more interest from me!!

I intend to contact the ombudsman about this!

bethyblue612

It does say on their website "Subject to application and status. The terms of your product may differ from the example" - admittedly in fairly small print, and I didn't notice it when I applied. You are given the opportunity to reject the terms before continuing with the application.

And they only need to give it to 50% of applicants to advertise the rate.

paulmounce

I know and I'm sure this will be one of those situations where it is totally wrong but nothing I can do, and 19 months is still good but it still it pretty poor IMO. they have clearly received a lot of good publicity with this deal and now appear to be reneging on it for no reason other than to make money for themselves!

Dankel

To update I phoned Barclaycard yesterday and they said a message had been sent about me being given the wrong terms and conditions but I would have to wait another 4 working days for a reply.

Apart from the fact that this is extermely poor customer service I cannot help thinking they are just stringing me along to get me off their backs - will update next week

jamie85_2

Hi,

My first bit of advise would be to contact a financial advisor if your are trying to sort out your finances. They will give you’re the best advice for you. I am no expert but have recently looked into the new card from Barclays which offer a 24 month interest free period. Also do research and check the terms and conditions. Remember that when you balance transfer, never make purchases with that card or the interest goes onto the balance straight away. This is why you need to find the best card for you and again maybe consult a financial advisor.

tinalives

Hi,

Can anyone clarify... since the rules regarding minimum repayments changed, does this affect repayments on 0% balance transfers?

I'm looking at the Virgin 0% deal and apparently the minimum repayment is made up of 1% of the balance, any plus charges, plus interest.

Am I right in assuming that the normal monthly payment on say £5000 would be £50 because of the introductory 0% period, or would there be an amount added on to the repayment to represent what the interest will be when the 0% period ends?

I know it might be a daft question but I wanted to double-check.

Thanks x

scooby088

I have a outstanding balance on my credit card and want to transfer the balance to a 0% deal so that it is more affordable, my card is with lloyds tsb and was wondering if i could transfer the balance to another offer that lloyds tsb are offering on another card.

waderr

In real this is a small and useful info. It used for me a lot.

thenudeone

tinalives wrote: »

Hi,

Can anyone clarify... since the rules regarding minimum repayments changed, does this affect repayments on 0% balance transfers?

I'm looking at the Virgin 0% deal and apparently the minimum repayment is made up of 1% of the balance, any plus charges, plus interest.

Am I right in assuming that the normal monthly payment on say £5000 would be £50 because of the introductory 0% period, or would there be an amount added on to the repayment to represent what the interest will be when the 0% period ends?

I know it might be a daft question but I wanted to double-check.

Thanks x

Minimum payments are calculated on real interest rates so if you have a 0% offer your minimum repayment will be lower.

thenudeone

scooby088 wrote: »

I have a outstanding balance on my credit card and want to transfer the balance to a 0% deal so that it is more affordable, my card is with lloyds tsb and was wondering if i could transfer the balance to another offer that lloyds tsb are offering on another card.

AFAIK no financial institution allows you to do a balance transfer on to another card with itself.

Many won't even allow you to have two credit cards with them (mbna is the most notable exception)

If you have another card, you could transfer the balance on to that (for a 3-4% fee) then immediately transfer it to a Lloyds card with the 0% offer, but is is very unlikely that you will get another Lloyds CC if you already have a Lloyds card with £10k on it.