Best Balance Transfers Discussion Area

sfax

Charlongo wrote: »

My mum wants me to help her with her credit card as I am a card tart myself. She has £5000 on a card with an interest rate which is going to go up soon. I've always gone for 0% cards and advised her to do that but obviously with the fee to balance transfer this will cost her quite a lot. She is currently paying off £90 a month (minimum payment). How do I know if she will get a card that will take £5000? What should I do? Thanks in advance.

Check her £2 statutory credit reports for Experian and Equifax and then apply if all looks OK. You'll not get a definitive answer as to whether she'll be accepted but if that £5000 is near her limit and she's only paying the minimum (never do this, always pay more, even if only £1 more per month) she may struggle

thenudeone

Charlongo wrote: »

How do I know if she will get a card that will take £5000? What should I do? Thanks in advance.

You won't, but even if only a part of the debt can be transferred to a 0% card it will still be better than none.

chrokee86

Hi all,

Was wondering if anyone can help me. I have moved to the UK this year from Ireland. I have a some debt on an Irish credit card (around £1500) which I am looking to get paid off. It's costing a lot to transfer money back to Ireland to pay it off so I was wondering if I could get the debt transferred to a UK card (preferably, with 0% interest) and pay it off that way to save some money. I've had a quick look but can't find any banks willing to issue a card unless I have 3 years address history.

Any way around this?

Thanks

Ellfy09

Hello

Can i apply for a BT credit card, get accepted etc. Then before making transfer make a large purchase on my original card?

I have noticed that when applying they ask for details of card you are tranfering from... if this purchase isn't on the card yet will this have any effect, will it give me option in the application process to transefer later etc?

Any advice welcome.

Cheers

sfax

Almost all cards allow you to transfer multiple times within a set number of days after the account is open. Usually 1-3 momths. Tesco have no time limit. No need to transfer during application unless the T&Cs explicitly say that's the case

planteria

you can do this two ways:
make the BT later, as above.
or make the BT straight away, to a cashback card example, and then spend the +ve balance that you have created:A

sfax

:spam: reported

thenudeone

sfax wrote: »

Almost all cards allow you to transfer multiple times within a set number of days after the account is open.

I think Natwest is one which only allows you to do one transfer to each card, regardless of the time limit.

sfax

Quick update on Nationwide. True to their word, I was able to apply for a new 0% for 20 month BT card with only 1.55% handling fee exactly one year and one day after the settled date on my last 0% Nationwide CC.

Applied last Friday, accepted by post today. Identical limit to last time (£5,500). The close the account as soon as the 0% deal ends seems to be a good strategy with them as they failed to offer any 0% existing customer deals when my 0% period ended and I had £0 balance

PsChuck

Hi,

As a newbie around here, I am hoping some old hands will be willing to pass on advice. I would like to transfer existing balances from credit cards with reasonably high APR rates to a 0% card. However I am a little hesitant as previously I thought my credit score is "decent" and applied for a Buy Now Pay Later scheme instore and was rejected. My credit file is accurate and the last time I saw my credit score it was in the Fair range. The last thing I want to do is apply for a card in order to transfer debt and look to improve my overall position, but end up with a rejection and have a negative impact on my credit history, making things even worse.

Do I need to just take a leap? Should I just aim for some of the cards designed for people with a poor history, even though I don't think I have?

All advice and suggestions welcome!