Best Balance Transfers Discussion Area

playaz

I apologise in advance, this has been posted elsewhere before I saw this thread :-
Hi guys,

I have recently applied for a Lloyds TSB credit card, during the application process I performed a balance transfer to my Santander current account (visa debit).

My application was accepted, however the balance transfer wasn't. I was told by Lloyds TSB over the phone this is due to the fact I was trying to transfer a sum of money (3k) onto my Santander debit card (current account) which they don't allow.

They recommended that I transfer the 3k onto any credit or store card (the only other credit card I own is Egg, soon to be Barclays). This Egg card is always paid off in full each month via my Santander debit card. If I transfer the £3k onto my Egg credit card do Egg transfer this surplus amount directly onto my Santander account? Would I be penalised in anyway? excluding obviously any items I've purchased that month using my Egg card?

I only requested the card for a balance transfer, if I cannot do this then the card is practically no good to me, should I do the Lloyds transfer to my Egg card?

Thanks in advance.

yamfry50

Interesting feedback guys, thanks!

thenudeone

jenb88 wrote: »

Is it possible to transfer the balance (approx £2000) from my boyfriends credit card account to my new credit card account? The benefit is it that mine is interest free for the next 3 months (Santander).
!

already answered here: http://forums.moneysavingexpert.com/showpost.php?p=46003629&postcount=224 and numerous times before:wall:

thenudeone

majestic1 wrote: »

One of my cards that is at it's maximum is currently offering a promotional rate to existing customers on bank transfers. Having crunched the numbers, I've worked out that after balance transfer fee it will still be profitable for me to transfer money from the card to another card of mine and then transfer it straight back to take advantage of the promotion. My question is 'is this allowed?'

Yes its allowed but are you sure the offer is 0% on bank transfers? These are very uncommon. Did you mean balance transfers?

carina88

Hi there,

I'm after a bit of financial advice... I took advantage of the Barclays Card 19months 0% on transfers back in July thinking I would use it on my other card when the 0% purchases expired - Only issue is I didn't read the small print "transfers must be made within 60days" and have just phoned to make a transfer but they are now quoting me a 6% interest rate. I cant find any other card that isn't Barclays VISA with this sort of deal...do I go for the 6% if the debt is under £2K? Any help/advice would be much appreciated!!!

Thanks

Nosh

Hi

I'm a student with a Natwest Student Credit Card and have slightly under £500 debt on it and was wondering are there any cards out there that i could do balance transfer to?

DebDub

Hi there. I wonder if anyone can answer this one for me; I have balances on both of my 2 credit cards. Both are offering 0% balance transfers. Each has a similar transfer fee and terms & conditions etc. I wonder if I can transfer the balance from one card to the other and then re-transfer the whole balance then back to the original card, thus receiving full benefit of the 0% against the full amount I owe. (I appreciate this would incur 2 fees and that cost has to be considered)

Thank you.

Rustikle

Ok, this may be a dumb question but here goes: I've been looking for a 0% balance transfer card and see the Barclaycard Platinum one (with cashback till Dec 31st and 0% purchases for 3 months) listed in this weeks moneytips email. Question I have is, how does what you repay work against what the type of debt is on this card?

I know the most expensive debt gets paid off first, so for this card does that mean any new spending as the interest free period is less than that of the balance transfer debt? Thanks guys.

jd87

Is it possible for me to get the new Barclaycard Platinum? I had another Barclaycard which I cancelled just over 2 months ago. It shows as settled on Experian.

McFilly

DebDub wrote: »

Hi there. I wonder if anyone can answer this one for me; I have balances on both of my 2 credit cards. Both are offering 0% balance transfers. Each has a similar transfer fee and terms & conditions etc. I wonder if I can transfer the balance from one card to the other and then re-transfer the whole balance then back to the original card, thus receiving full benefit of the 0% against the full amount I owe. (I appreciate this would incur 2 fees and that cost has to be considered)

Thank you.

I was thinking of doing this too. Anyone else already doing it?