Best Balance Transfers Discussion Area

peewit2

Moggles wrote: »

Today, the Hally launched a new balance transfer deal, which offers 0% on BTs for 15 months. A 3% handling fee applies.



Does anyone know if the Halifax will let you take out one of their 0% balance transfer cards and transfer the balance from another of their 0% cards? I took out a 0% card with them last year and the 0% period expires in mid Sept. Tempted to see if I can transfer the balance to another card.

ChopperST

peewit2 wrote: »

Moggles wrote: »

Today, the Hally launched a new balance transfer deal, which offers 0% on BTs for 15 months. A 3% handling fee applies.



Does anyone know if the Halifax will let you take out one of their 0% balance transfer cards and transfer the balance from another of their 0% cards? I took out a 0% card with them last year and the 0% period expires in mid Sept. Tempted to see if I can transfer the balance to another card.

No you can't you need to transfer the balance to a different bank all together out of the HBOS group.

FX_Marks_the_Spot

QUESTION: Is it only a 'Balance Transfer' if its from another Credit Card?

I have a student loan in New Zealand (£2,545.94 left to pay), but I incur interest (5.9%) so am thinking of paying it off with a 0% credit card and then paying monthly payments on the Credit Card.

Is that classed at a Balance Transfer? Or is that just a large spend as its not paying off another Credit Card?

I need a credit card anyway (I don't want a repeat of my last holiday where got stuck in the middle of nowhere unable to rent a car - I had the funds, but the needed a Credit Card).

So, is it a Balance Transfer? Or should I be looking at a different type of Credit Card?

Any help would be appreciated!

sfax

No, it isn't: http://www.stoozing.com/credit-cards/super-balance-transfers.php

angel00079

I came across this thread trying to find out about Barclaycard. I was going to BT approx 3k from one card to Barclaycard to pay off card and have some left over to pay off bill. I know that potentially this could go pear shaped.

I noticed
that I have the option to transfer balance to current account with apr of 4.9% until July 2015. I thought that might be better as I would have to BT next year. I tried apr calculator and got interest as £165 which seems wrong. I think that in my hayfever induced stupor I have entered something wrong.

I was keen to get it sorted today but I am thinking I should wait until I have a clearer head. Would you say that £165 seems wrong?

sfax

angel00079 wrote: »

I came across this thread trying to find out about Barclaycard. I was going to BT approx 3k from one card to Barclaycard to pay off card and have some left over to pay off bill. I know that potentially this could go pear shaped.

I noticed
that I have the option to transfer balance to current account with apr of 4.9% until July 2015. I thought that might be better as I would have to BT next year. I tried apr calculator and got interest as £165 which seems wrong. I think that in my hayfever induced stupor I have entered something wrong.

I was keen to get it sorted today but I am thinking I should wait until I have a clearer head. Would you say that £165 seems wrong?

Seems about right to me. 2 years APR will be similar to the simple interest rate. 5% of 3000 is £150. Google APR calculator and use guardian website if you want an accurate check

angel00079

sfax wrote: »

Seems about right to me. 2 years APR will be similar to the simple interest rate. 5% of 3000 is £150. Google APR calculator and use guardian website if you want an accurate check

Thanks, it just seemed wrong. I was concerned I had entered incorrectly but double checked and it is fine.

thenudeone

Please click the spam button on adolfineamy's post; trying to advertise a website.

[edit: it's gone now]

sfax

adindas wrote: »

I have Tesco Credit Card for purchase which will start earning interest in December this year.

I have build up around £3000 in this credit card and I am thinking to moving it to BT credit Card "Platinum 15 Month Balance Transfer Card" from Lloyds TSB

I have not done Stoozing using BT before so I will still need to learn some tricks knowledge to avoid mistake and pitfall.

Am I right to say to say., (please correct it) given that my application is approved if I transfer my balance £3000 to this new credit card.

- I will initially pay the fee 3% of £3000 = £90
- In a few month I will get back £60 so literally I will only pay £30
- I could leave the money for 15 months and do not pay any interest.
- Before 15 months is due I will clear the balance, so I do not pay any interest.

Could you please check whether my understanding is correct ? also please free to correct or amend in case I miss something important. My only aim is to optimize stoozing not to run into debt, so If I am about to pay a fee or interest I will make sure to clear it immediately.
.
Here is the link of the product. Thank you for your time

http://www.lloydstsb.com/credit-cards/platinum-card.asp.

• Saving - 0% for the first 15 months* on balances transferred in the first 90 days (with a 3% fee).1
• Balance Transfer fee refund offer - reduces a 3% balance transfer fee to 1%.**
• Shopping – 0% on purchases for the first 3 months.*
• Easy spending – accepted worldwide.

* To stay eligible for promotional rates, you must stay within your credit limit and make your payments on time each month.

Yes, all of this looks OK to me. Saving interest rates aren't great at the moment so it's not going make you a great deal of money (unless you have the whole £3,000 available to pay now and you are just deferring payment to earn 18 months interest on the whole amount).

The normal "stooze" would be pay into a savings account as you spend

LABW123

I have seen quite a few Credit card companies launching new cards with long 0% debt transfer, can these be used to pay off overdrafts?