Best Balance Transfers Discussion Area

CaraMia_2

Hello all.
This may sound like a silly question but I'm new to credit cards so here we go...

I'm looking to transfer my balance from one card to another. This balance is made up of both purchases and cash withdrawals, will both be treated equally and given 0% on the new card for the introductory period? I ask this because the interest difference is so commonly different between the two and I don't want to pay a transfer fee only to find that only some of the balance is at 0%.

Hope that makes sense...I've emailed the bank about it but I've not heard anything and have a feeling this is a stupid question to be asking during the process of transferring :S

Thankyou,
Cara.

COOKIES

I'm after a little advice. I don't have alot of debt on my barclaycard (£600) but i've just received a letter saying that the interest rate which is currently quite high in my opinion at 16.9%apr (my first credit card) is due to increase to 201.9%apr in feb unless i cancel and then my account will be closed and i need to pay off any remaining money at the previous rate. will this affect my credit rating? I don't use my credit card except for when i really need to but don't want to be without it in case of an emergency.Any ideas on the best kind of credit card for me to switch to? My credit rating is very good and i never withdraw money from the bank on my credit card.

scott_lithgows

COOKIES wrote: »

I'm after a little advice. I don't have alot of debt on my barclaycard (£600) but i've just received a letter saying that the interest rate which is currently quite high in my opinion at 16.9%apr (my first credit card) is due to increase to 201.9%apr in feb unless i cancel and then my account will be closed and i need to pay off any remaining money at the previous rate. will this affect my credit rating? I don't use my credit card except for when i really need to but don't want to be without it in case of an emergency.Any ideas on the best kind of credit card for me to switch to? My credit rating is very good and i never withdraw money from the bank on my credit card.

201.9 % !!!


Try for a Halifax all in one,gives you 11-15 months on balances and new spending depending on your credit score

COOKIES

oops sorry that should have said 21.9% that would be quite a hike! lol

thenudeone

CaraMia wrote: »

I'm looking to transfer my balance from one card to another. This balance is made up of both purchases and cash withdrawals, will both be treated equally and given 0% on the new card for the introductory period?

Yes.

The new card will not know (and will have no way of knowing) how the transferred balance was arrived at, whether cash, purchases, charges, interest, or other transferred balances. It's just a balance.

sfax

I did a search on Nationwide but couldn't find anything so apologies if this has been asked before. I have a Nationwide CC that I got exclusively for their introductory 0% 12 month balance transfer offer. I have now paid off the balance and the 0% period has just expired but I would still like to use it for another BT. I called Nationwide and the guy was a bit clueless about what I was asking which is basically this: Will Nationwide ever give me another 0% interest free balance transfer rate on this account or do they only ever offer 0% to new customers? If they won't ever offer me 0% again then I'll close it and apply for something else but I have to wait as I have too many recent CC applications.

On a side note, I recently did the same with a Virgin CC and asked for a new 0% rate, they said no, I threatened to close expecting a new 0% offer, they just closed my account! Are follow-on 0% rates becoming harder to obtain than they used to be? I have tried the threaten to close account successfully in the past with Barclaycard and Virgin and I always got a new 0% offer

ctweed

I recently applied for, and recieved, a Barclaycard platinum credit card in order to take advantage of the 0% balance transfer offer. The problem being that it is my overdraft with my bank account that i wish to pay off which Barclaycard wouldnt do. They said the current offer only applies to other credit cards or store cards.
I dont know what to do now as they advised against clsoing the account (which they would of course) as offers are constantly changing and i wouldnt be able to get another credit card for six months anyway so may as well keep this one for the time being and look out for different offers. Anyone got any advice?

sfax

ctweed wrote: »

I recently applied for, and recieved, a Barclaycard platinum credit card in order to take advantage of the 0% balance transfer offer. The problem being that it is my overdraft with my bank account that i wish to pay off which Barclaycard wouldnt do. They said the current offer only applies to other credit cards or store cards.
I dont know what to do now as they advised against clsoing the account (which they would of course) as offers are constantly changing and i wouldnt be able to get another credit card for six months anyway so may as well keep this one for the time being and look out for different offers. Anyone got any advice?

If you have another CC that you can use (or borrow) then you can take cash on this card and then transfer the balance to your Barclaycard but this will usually cost another 3%.

victoria20

I'm a university student and have just under 1,000 debt on one card, am I able to transfer it to a 0% or wait until I have finished my degree?

sfax

victoria20 wrote: »

I'm a university student and have just under 1,000 debt on one card, am I able to transfer it to a 0% or wait until I have finished my degree?

The only barrier is getting accepted for the balance transfer card. If you can get accepted you can usually transfer from any credit card that isn't owned by the same company. As a student you aren't likely to have a very good credit score or even fit the application criteria and may get rejected if you apply.

Even after your degree when you're working you may struggle. It took me a year of full time employment after my degree before I could get a second credit card and my Barclaycard limit remained at its student £600 level for 2 years before they agreed to increase it.