Best Balance Transfers Discussion Area

gogsboy

Just started paying interest on a card that had slipped my mind...dont usually do credit anymore so this is the only one I have.

It's with Barclaycard, I have both Nationwide and Lloyds cards that have no balance on them.

Can I call them and haggle for a 0% transfer or would I need to look at another provider or a new application

Jayne50player

Hi how can I get hold of my long card number to balance transfer, I cut my cards up and now only receive statements with my account number on

YorkshireBoy

Jayne50player wrote: »

Hi how can I get hold of my long card number to balance transfer, I cut my cards up and now only receive statements with my account number on

Does this number also have 16 digits? And is it an M&S or HSBC card?

If the answer to both is yes, then just quote this number instead.

However, if you don't want to risk it (ie take the advice of a total stranger!) then ask the provider if they're the same.

Pretty_Peas

I am 28 and have quite a fairly hefty debt (about 6k) spread across 2 cc's.The 0% is about to come to an end on them both so I want to swap the balance toanother 0%. Ideally I'd like both debts on one new card.

I'm struggling as when I'm looking in to the best 0% cards on here it tellsme I'm only likely to get a £1-2000 limit which would mean me having to getabout 3 cards, kind of silly! I pay my minimum payments on time every month andhave no other debt so unsure why this would be the case. Is it likely to bethis way with every card? Also if I were to actually phone the company asopposed to applying online so that I can state what I need is it likely to makeany difference!?

My partner and I saw a mortgage advisor this week and we will definitely beoffered one. However, I want to try and shift this debt a bit first to make aclean start.

Any advice greatly appreciated.

smartbear1

nick78447 wrote: »

Hi all,
I have a BT just ended and am looking for a suitable new one. I already have a Barclaycard, a Tesco and a Natwest card.

My questions are as follows -

1. Does having that Natwest card mean I wouldn't get an RBS card?

2. I did have an MBNA card but paid it off well over a year ago, and closed the account. At what point can you go back and apply for another card? On the same theme - are they the same company as Virgin? So would the earlier MBNA card go against me when applying to Virgin?

3. I have a current and business account with Santander. Also a mortgage. No problems ever. I've noticed they offer a card with a 17 month 0% BT. This doesn't come up on any of the searches on this site or confused.com. Am I more likely to be accepted by Santander as I have a "relationship" with them?

Many thanks!

I had an MBNA card a few years ago. I did a balance transfer to it and they gave me full limit but then hiked up the APR for what was outstanding. My mistake I know, I should have cleared it but never done that since. I had to virtually freeze the account and then paid it off quick smart. I recently applied to Virgin and put in the balances I wanted to transfer online and they accepted me at 24 months interest free credit. Life after MBNA I guess and happy to use them, like they used me all those years ago.

As for Santander I took out their Credit Card as a bank customer, well they basically threw it at me and was given a low limit of £500. It was interest free for a year so I can't grumble really. But I paid it off and closed it shortly after as they wanted to charge me a lovely fee for keeping the card. They had no interest in putting up my limit so they lost my business their.

That might help answer some of your questions?

smartbear1

Pretty_Peas wrote: »

I am 28 and have quite a fairly hefty debt (about 6k) spread across 2 cc's.The 0% is about to come to an end on them both so I want to swap the balance toanother 0%. Ideally I'd like both debts on one new card.

I'm struggling as when I'm looking in to the best 0% cards on here it tellsme I'm only likely to get a £1-2000 limit which would mean me having to getabout 3 cards, kind of silly! I pay my minimum payments on time every month andhave no other debt so unsure why this would be the case. Is it likely to bethis way with every card? Also if I were to actually phone the company asopposed to applying online so that I can state what I need is it likely to makeany difference!?

My partner and I saw a mortgage advisor this week and we will definitely beoffered one. However, I want to try and shift this debt a bit first to make aclean start.

Any advice greatly appreciated.

Hi Pretty,

I used the MSE balance transfer checker and it gave me 80% success rate with Virgin. I tried it with a £5,400 balance to transfer and it gave me the limit I needed to do it online to transfer 2 CC balances. I would suggest you do it there and then and indicate what limit you need, rather than wait for a low limit to drop through the door.

My other bit of wisdom to impart is that once upon a time I got a low limit card with Santander of £500 but it was interest free for a year. I was really miffed about it at the time as obviously I couldn't really get another card out as that would be too many checks in a short space of time. I really saved on the interest payments in the end and I'm a great believer that any interest free is better than no interest free. Also a 3rd card gives you more options for shuffling - even with a low limit. For example, one of your providers could raise your limit but not quite enough to take both balances on the card. Having a 3rd could just help you to juggle things around.

You could ask one of the CC providers you already have to raise your limit and take your business off one of the cards and then transfer them back to a 0% deal when it comes up. I know this incurs a fee but might be worth doing it?

However, you need to be honest with yourself and know if you are likely to pay them off in the time limit if you go interest free again? If not you might be better with a rate for life on transfer and taking it steady. This will incur interest but it will be a low rate. You could also ask one of the CC about this. If they feel they have the potential to make a bit of cash from you they will most times try to sort you a good deal. Either way you are going to pay fees or interest somewhere down the line, so better to bite the bullet and juggle if it helps.

DXD5768

Hi, I'm new to this and I am hoping I have posted in the right place.
I have a credit card debt with Santander of approx £2500, I am making monthly repayments of approx £80-£85 per month and the total is only decreasing slightly each month. The interest rate is killing me and I have now just received a letter informing me that the interest rate will be increasing again
I have been looking into balance transfers but I don't no what to do
Can anyone advise me what to do please?

Thanks

grumbler

DXD5768 wrote: »

Hi, I'm new to this and I am hoping I have posted in the right place.
I have a credit card debt with Santander of approx £2500, I am making monthly repayments of approx £80-£85 per month and the total is only decreasing slightly each month. The interest rate is killing me and I have now just received a letter informing me that the interest rate will be increasing again

See MSE article: Reject Credit Card Rate Hikes

I have been looking into balance transfers but I don't no what to do

If your credit rating is fine you apply for a CC that offers either 0% for N months or long-term low interest rate on BTs. I you are accepted and the new credit limit is big enough, you transfer the balance from the old card to the new one:

• Cheap Credit Card Loans Use credit cards to get loans as low as 0%
• Balance Transfer Credit Cards

Then you close the old card and concentrate on repaying the debt while the 0% offer lasts.

DXD5768

Thank you very much for the quick response. Can you advise which card to go for as I have tried Barclays and tesco bank and they only offer £1200 credit limit?

grumbler

Well, you can do 2 BTs. Every little helps. 1200+1200=2400.

And every new application makes things only worse: Credit Ratings