Best Balance Transfers Discussion Area

blitzboy

DXD5768 wrote: »

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?

The 1200 is just the guide amount they use in their example, not the actual amount they offer. You won't find out how much they offer until you are accepted. Barclaycard are particularly well known for their generous limits so I'd recommend trying them.

But as grumbler says, if 1 cards limit isn't high enough you could always split it onto 2 cards

Rachylou1981

Can anyone answer this query please?

Is there any rule on how long you have to wait between balance transfers between cards?

I have three cards and this is my plan:

Card 1 - Increased credit limit (done). Transfer my balance from card 2. Half will be charged interest. Rest will be balance transfer at 0%

Card 2 - Just used for first time in months. Transfer balance to card 1 at 0% for this balance only.

Card 3 - Zero balance. Transfer card 1 so that the full balance of cards 1 & 2 can be added at the same time at 0%

The reason for the above is that cards 2 and 3 are both Barclaycard and I cannot transfer them to eachother hence I have to use card 1 as an in between - is this a good plan or will I hit a snag in that I need to keep the balances on for a certain time period when first transferred?

Sorry if that sounds too complicated. I can of course keep just one card rather than keep moving money but I want the 0% for all of my balance not just some of it.

grumbler

Rachylou1981 wrote: »

Is there any rule on how long you have to wait between balance transfers between cards?

No

I have three cards and this is my plan:

Card 1 - Increased credit limit (done). Transfer my balance from card 2. Half will be charged interest. Rest will be balance transfer at 0%

Card 2 - Just used for first time in months. Transfer balance to card 1 at 0% for this balance only.

Card 3 - Zero balance. Transfer card 1 so that the full balance of cards 1 & 2 can be added at the same time at 0%

Is a part of CC1 balance not at 0% already? What's the point in paying a fee for transferring from 0% to 0%?

The reason for the above is that cards 2 and 3 are both Barclaycard and I cannot transfer them to eachother hence I have to use card 1 as an in between - is this a good plan or will I hit a snag in that I need to keep the balances on for a certain time period when first transferred?

If both CC1 and CC3 offer 0%, I think it makes sense to transfer from 1 to 3 first, then from 2 to 1.

Rachylou1981

grumbler wrote: »

No

Is a part of CC1 balance not at 0% already? What's the point in paying a fee for transferring from 0% to 0%?

If both CC1 and CC3 offer 0%, I think it makes sense to transfer from 1 to 3 first, then from 2 to 1.

No, not all 0% as I purchased things on it so I am obviously charged interest now.

Thanks for your plan idea, I need to wait until something is refunded on card 1 before I can see an accurate balance. As long as I know there are no rules then I'm okay

thenudeone

DXD5768 wrote: »

Can you advise which card to go for as I have tried Barclays and tesco bank and they only offer £1200 credit limit?

£1200 is often used for illustrative / comparison purposes (it works out as nice round numbers - £100 a month for a year) but it doesn't mean your limit will be £1200.

You usually can't tell what your limit will be unless you complete the application process (although one or two banks will give an indication without a complete application).

foster1991

hello i love you all

grumbler

Good bye.
We don't like you.

Ruth82

Hello
I have 2 credit cards and attempted to apply for a new card to do a balance transfer but was declined the card. I have a good credit rating and unsure why this was. Also one of my cards are offering a balance transfer of only £250 at 0% until April next year which hardly seems like worth doing. Please could you give me some advice.

KATSUMA75

I want to transfer my current credit card balance onto a 0% card. My current Apr is 34.9% which is very high. I keep getting turned down re balance transfer, can anyone help ?:j

MattN

Hello, this is my first post here so apologies if its in the wrong place.

I wondered if anyone could offer some advice about the following:

I have a couple of credit cards that I got as 0% balance transfer cards originally and now the interest free period is coming to an end so I'm looking to switch again. However, I've been refused a new 0% card as according to the provider I have too much credit.

I'm wanting to get a new 0% balance transfer deal precisely to REDUCE the amount of credit I have -would it be worth pointing this out?

Its not really in my best interest not to switch, but maybe they have identified me as someone who will just transfer my balance when my zero deal comes to an end.

Just wondered if anyone had any experience of getting round this issue?

Thanks