Best Balance Transfers Discussion Area

marksmith001

Hi i am new on this form. i didn't use this kind of thing before. and no idea about this. i got some information from this and when got an ans than reply this one as soon as possible.

thenudeone

bobbingalong123 wrote: »

I have £3800 on an MBNA card (20%) and £4500 on a Barclaycard (23%). Both accounts closed (by me). Which 0% cards should I go for?

http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar

thecrab

Hey - I recently transferred two credit card balances (capitalone and barclaycard) onto a third card (MBNA) as they have a 0% balance transfer offer for 12 months (and a lower interest rate after that). The balances have both now gone onto the MBNA card, as off yesterday. However, they are also still on both my other cards!

1) This seems super cheeky - if it wasn't for the 0% MBNA card deal I would currently be paying interest on the same debt twice! Are they allowed to do this? (NB it is actually *on* the MBNA card, not just pending)
2) How long is it likely to be til it comes off the other two cards (capitalone and barclaycard)? This has been the situation now for 2 whole working days (it took 4 working days prior to that for the balance to show up on the MBNA card).

Any feedback would be greatly appreciated, as the prospect of calling the CC companies and trying to kick some butt seems pretty exhausting. Sigh.

thenudeone

The customer-facings web systems don't report live balances. It can take a few days or more to update with the correct balances.

If mbna have paid with BACS it will genuinely not have reached the other card company for at least three days.

missp72

I have just transferred my credit card balance to one with 0% interest, I was just wondering if anyone knows how long this takes to show on the old credit card?

asharon

missp72 wrote: »

I have just transferred my credit card balance to one with 0% interest, I was just wondering if anyone knows how long this takes to show on the old credit card?

I just did the 2 year interest free thing and was told 5-10 working days is what they have to say but it is usually sooner.

Nutkin_01

Hi,
I'm new to this but hoping someone can help.

My situation
I am pregnant and due the beginning of Jan
My partner and I can currently afford our repayments on our cards.
Next year i will be on statutory maternity pay of £128.72 a week, this is where the problem lies, we won’t be able to afford our repayments on my income.
Given the above, my main focus is on reducing the monthly payments short term, rather than paying off my debts long term, although this would be our ultimate goal.


My Debts


MBNA Card limit 2400 Interest rate 30% debt 314 0% BT rate 8 month


Halifax Card limit 10900 Interest rate 21% debt 10890 BT rate n/a


Barclaycard Card limit 2720 Interest rate 19.9% debt 2630 BT rate n/a


Virgin Card limit 4000 Interest rate 0% debt 1321 BT rate 0%

I understand the principle of paying off the most expensive debt first, but as i explained above, i hope to reduce my monthly payments first and foremost, with the imminent arrival.
Furthermore, i was unable to get another credit card so the virgin card isn’t actually in my name, which i understand is risky.

What do i transfer and where? and what should i concentrate on paying off first? the one with the highest interest rate? or the lowest, so i can pay off more quicker, reducing my payment for next year?

Thanks in advance for your help.

LaurBom

Hello
does the credit card I transfer the debt from have to be in my name? ie. can I transfer the balance from my husbands credit card to a new 0% card that I open?

thenudeone

LaurBom wrote: »

Hello
does the credit card I transfer the debt from have to be in my name? ie. can I transfer the balance from my husbands credit card to a new 0% card that I open?

http://forums.moneysavingexpert.com/showpost.php?p=46003629&postcount=224

kategb9

Hello, I was wondering if anyone could help me. I am trying to reduce the debt on two credit cards (£2400 on Lloyds TSB Gold Card) and (£6400 on Everton Mastercard) I applied for a Capital One 0% balance transfer but they didn't give me an answer straight away. By post they said that they couldn't offer me the 0% transfer card at this time but offered me another card giving me 0% on any purchases for 12 months. NOT what I wanted as I know that by applying for cards you can damage your credit rating. As far as I am aware my credit rating is good and I don't know what to do next. I really want to reduce the overall debt but I'm unsure as to whether I should apply for a different 0% BT deal. Please help