Best Balance Transfers Discussion Area

tinalives

Hi,

Does anyone know offhand how long you have to wait after closing a Barclaycard account before you are likely to be accepted for another card?

Thanks.

sfax

tinalives wrote: »

Hi,

Does anyone know offhand how long you have to wait after closing a Barclaycard account before you are likely to be accepted for another card?

Thanks.

Nationwide is 12 months. I would wait at least 6. You can apply earlier but you won't get the new customer deals (you'll get offered a standard APR card instead)

nadirnwo

Hi,

Does anyone else having delays waiting to hear from Barclays? Been well over a week for me now

LucachHumach

I am a business professor with anthropological training.

jdaffern

I have just taken out the Barclaycard Platinum 0.9% balance transfer card. I took £2,000 balance transfer and £18 was added as the fee.
Now I've received my statemet, I notice that I need to pay a minimum of 2.25% (around £45) every month. Also interest accrues daily from the day of purchase at 19.9%.
So although it's 0%, you still have to keep up regular payments even if you're not using the card, you can't simpy pay it off after 1 year (as I had intended).
And I won't be spending on a card that charges 19.9% from day 1!

sfax

jdaffern wrote: »

I have just taken out the Barclaycard Platinum 0.9% balance transfer card. I took £2,000 balance transfer and £18 was added as the fee.
Now I've received my statemet, I notice that I need to pay a minimum of 2.25% (around £45) every month. Also interest accrues daily from the day of purchase at 19.9%.
So although it's 0%, you still have to keep up regular payments even if you're not using the card, you can't simpy pay it off after 1 year (as I had intended).
And I won't be spending on a card that charges 19.9% from day 1!

The same applies to all credit cards, only the minimum amount % varies. And you should never mix purchases and BTs.

Most people with BT cards don't "use" them, they just BT and then pay them off.

thenudeone

jdaffern wrote: »

took £2,000 balance transfer and £18 was added as the fee.
Now I've received my statemet, I notice that I need to pay a minimum of 2.25% (around £45) every month. Also interest accrues daily from the day of purchase at 19.9%.
So although it's 0%, you still have to keep up regular payments even if you're not using the card,

Agree with sfax.

You are paying interest on the purchases you've made.

Every single credit card works exactly the same way.

You should always avoid mixing 0% offers and normal purchases on any card, for this reason. Use another card instead.

GunWharf

A word of caution.

A few months ago ( 4 to be exact) i wanted to move around £3,000 to a new Card Provider with 0% Interest Period. I viewed these pages a dozen times looking at peoples stories and what was the best deal.

Tesco came out top so i duly applied on line and waited. They asked me to provide a copy of my passport and a utility bill and away i went.

After 3 months, I today receive a DEFAULT SUM NOTICE -LATE PAYMENT FEE. Having paid my monthly amount ( 5% off the bill) I rang Tesco Up. Well to my shock they had charged me and put a default on my account and credit file. This means that Tesco start charging me the full APR on the ENTIRE balance as I have not followed the Agreement.

I was angry as hell. The Operator said something to somebody else which i overheard,which i will not repeat on here but lets just say,-this seemed common practice.

Yes, I am one of the ones that " realised" it was wrong Miss Operator. Tesco have agreed to refund the charge and mark my credit file but i have also made them send me a letter.

I have a good mind to complain to the FSA. Please everybody, be aware and check your statements. This could have ended up costing me £££'S in interest. If it does not look correct-tell them. Dont let them get away with it.

Rainboyo

I have just come to the end of my Barclaycard 0% period, and I had got the balance down from around £13,500 to under £8000 during 0% period. I also have a current account overdraft with Lloyds TSB that regularly reaches its limit of £2400DR, and a current account overdraft with HSBC that has been stagnant for a while at around £1400DR (they have very recently notified me that they are going to terminate this overdraft facility - I may be able to arrange a repayment plan with them).

I applied for an MBNA 0% BT card, as they also allow transfers from current accounts for a fee, which would allow me to transfer the overdraft balances as well. During the application, they said the maximum credit limit would be £7500, but I was later turned down completely. I was promised a letter explaining the reasons, but this has not appeared (the phone number they give leads to a recorded message).

I was starting to apply for a NatWest BT card this evening, but during the application they said they could offer a maximum credit limit of £2150 if the application is successful.

It didn't feel like the credit check part of the application had yet been done, so I am thinking that this must have been calculated mainly on the basis of my income (£1,430 per month take-home from £25,000 p/a).

I am now not sure whether I should complete this application, or stop now and try someone else, so I don't generate too many credit checks.

My credit record used to be sub-par, but has improved dramatically over the last couple of years, with no missed payments, and an ever-decreasing credit card balance.

I am not quite sure of the best way to proceed from here - any advice?

Many thanks in advance!

sfax

I think you'll struggle to get any new BT cards given what you owe, your salary and your overdraft use. You can apply and hope for the best but if you get a 2nd rejection, that's it for at least 6 months. A lender will assume you could max the new card and end up owing a lot more