Best Balance Transfers Discussion Area

D-21

Hi all,

Not sure if this has already been covered but haven't seen it & apologies in advance.....
This is an area that has always caused me some confusion, I know unless the current provider offers you balance transfer offers to transfer existing debt you cant transfer between different cards with the same provider. But if you have previously used the provider but closed the account or have another active card with them can you re-use that provider to transfer a balance from another? As the best rates for me are providers I've previously used or even am currently using as I have a number of cards. But a couple are at the end of the 0% and I need to transfer again and not sure if I can use ie Barclaycard to transfer an MBNA balance as currently have one active card with Barclaycard (albeit need to transfer this anyway).


Thanks

[Deleted User]

Yes, subject to acceptance.

D-21

I've also just bought a house & moved in last week. Not sure if I should hold off a little while before applying? Whether this will impact my likelihood of being accepted, however I have gone from renting to a mortgage which surely shows more stability?

[Deleted User]

You could try. If rejected, leave it 3 months.

A mortgage may surely show more stability, but it may also surely show a potential drain on finances.

79Million

I need to offload an £8,800 balance from a Sainsbury's card that's 0% term is expiring. I can't seem to see what the likely credit limit will be on any of them, and all of the 'pre-approval' examples state £1,200 as the example figure, which is obviously a small chunk of the above debt. Is there any way of telling before application what credit limit I'll be offered? Or are there cards/lenders that tend to give higher limits?
Thanks in advance

[Deleted User]

The £1200 is a regulatory illustration.

MBNA and Bcard anecdotally give higher limits than the average.

79Million

Deleted_User wrote: »

The £1200 is a regulatory illustration.

MBNA and Bcard anecdotally give higher limits than the average.

Well thank you. I applied for an MBNA card and they have approved it with a £12,000 credit limit - great success!

Kanetaylor1994

Hi, I currently have 2700 left on my tsb loan. I applied for a platnum Barclays card 0% interest for 14 month and got accepted. I would like to pay off my tsb loan with this card so I don't incurre any more charges and interest but I read on the Barclays website your not able to transfer balance to a debit card. Can anyone help and tell me the best way to go about paying my loan off please.

Chrysalis

money transfer cards are the best, an alternative way (if you have a balance transfer card) is to pay off with another CC over the phone (or on website) and then transfer to the 0% card.

A 0% purchase card if you pay it over the phone or on website wont have interest.

So depends on what type of transaction the 0% is for.

Out of the 3 methods 0% balance is the most complex method, its designed for transferring credit card balance's not loan's.

fantastiyk

Hi,
I apologise if this has already been covered, I just can't find it.
I've just been accepted for a £1400 balance transfer to a 0% card.
I'm trying to reduce the interest I've been paying. I still have £5000 on credit cards that I'm paying interest on.
Do I need to wait for a certain length of time to pass before I can apply for another interest free card ? If I do apply now will it be rejected? Or affect my credit rating?