Best Balance Transfers Discussion Area

grumbler

Maglez wrote: »

Balance Transfer Credit Cards are only intended to transfer debts from other credit cards or can I transfer debts from a loan?

• Super transfers

Maglez

Also, if loan debts are allowed to be transfer to transfer credit cards, what is the maximum amount of money these cards allow you? 5K, 10K?

I guess it will all come down to ask the specific issuer/bank but I was wondering if there is like a top for these transfer cards.

Thanks.

thenudeone

Depends entirely on your own circumstances. I've done BTs for around £10k before, so a sizeable limit is possible.

Chloe_Fox

Hi
Can't seem to find the answer to my question anywhere so hopefully somebody can help.

Is it possible to move a balance from one Visa card to another, or one Mastercard to another etc? As long as they are from different providers, such as Santander and barclaycard etc?

I always though you couldn't but looking at it, you would only ever be able to transfer between the 3 cards, Visa, MBNA and Mastercard?

Really appreciate your answers in advance

Chloe Fox

chopps

yes it's ok unless both are from the same company, so Visa to Visa is fine but not,for example, if they've both been issued by Barclaycard or a company associated with Barclaycard

cavegitl

Hi,

My husband and I relied on existing credit cards over the past 9 months to tide us over a house purchase/refurb and a bit of a cash flow problem!

We did not apply for new credit cards with better deals at the time because we had just applied for a mortgage and loans and we were not on the electoral at our new address.

Our credit ratings have taken time to recover... mostly because our local council have only just sent the updated electoral roll info but now we are in a position to try and move some of our extortionately costly credit cards to some 0% balance transfer ones. We would hope to pay them off within the deal period as our cash flow problem is resolved now, so without paying as much interest we should be able to really start making dents against the debt mountain!

My husband has around 12k in credit card debt
I have around 5k but mine is low interest so less urgent.

We both have "excellent" scores at both experian and equifax (we just checked) and we both earn around 40k per year each.

Does anyone have any advise on which credit cards have higher limits, so that we don't ruin our scores by applying around? Is it worth me applying for a credit card and shifting some of his CC debt to me?

Any advise much appreciated!

hr100

Hi

Wonder if anyone can help me. I am trying to transfer money from HSBC to Santander, but it keeps being declined and they dont know why. They said normally its a difference in the details but they both are the same.

Has anyone else had this problem?

llyr

Hi

I'm very new to this so here goes:

I read a little on transferring my debt to another credit card at 0% for 30 months. I applied with Halifax after reading this.

I got accepted but I could only transfer £1425 of the debt over but I wanted to transfer roughly £4000 to completely transfer all of my remaining credit card debt.

How can I do this as I could only transfer one lot of £1425 to my 0% account?

Thank you for any replies

grumbler

llyr wrote: »

I got accepted but I could only transfer £1425 of the debt over but I wanted to transfer roughly £4000 to completely transfer all of my remaining credit card debt.

How can I do this as I could only transfer one lot of £1425 to my 0% account?

You transfer £1495 and apply for some other card(s). Whether you will be accepted is a different question as the more available credit you have the more difficult it gets to get a new credit.

After transferring part of the balance you can ask for your old credit limit to be reduced and wait until the new limit is reported to CRAs. It's difficult to say whether this will increase significantly your chances of getting new card(s).

llyr

Thank you for the reply.

I'll get applying!