Best Balance Transfers Discussion Area

casw1000

Deleted_User said:

casw1000 said:

Hi All.   I have had a few BT credit cards over the years I am again looking into another BT deal.  One question that I cannot seem to find on the popular search engine (G) so I thought its best to reach out to the community hear instead.  I have had a card from Virgin Money, MBNA and Tesco.  When I check for the latest deals, the top offers (for me) come through from these same providers.  So my question is simple.  I currently have a paid up virgin card (zero balance), could I apply for one of the Virgin 0% deals even though I have a card with them already?   My outstanding balance is on my MBNA card, but I just could not see anywhere if its 'allowed' to get another deal with a company that I have previously had a deal with?  

Hope this makes sense, and thanks for your feedback. 

You can apply for the card but they may refuse it given you already have a card, that's down to the organisation if they will let you have more than one

Thanks,  I wasn't sure as I had read that you can have more than one card from a bank, but could not find anything about this scenario.  So, I am better off trying to find a deal with someone new from the pre-approved list. TVM. 

casw1000

I appied for a hsbc in the end, it all went through, but did not receive any email confirmations etc, maybe thats normal whilst the account is setup.  Also, the credit amount was quite low, but I understand they often offer more at a later date.  
Well, thanks for your feedback here, it is appreciated. Regards, Colin.

[Deleted User]

casw1000 said:

I appied for a hsbc in the end, it all went through, but did not receive any email confirmations etc, maybe thats normal whilst the account is setup.  Also, the credit amount was quite low, but I understand they often offer more at a later date.  
Well, thanks for your feedback here, it is appreciated. Regards, Colin.

Firms may increase your limit based on good use of the card e.g. paying on time with a BT card but it isn't automatic

pannetteb

Take a chance and apply for the perfect balance transfer card.
I have recently borrowed money to consolidate some of my more expensive cards and a bit more for home improvement.
I also checked my eligibility and didn’t have any options that didn’t have a very high % rate or have a very short internet free period

One of the cards that showed 0% was my main bank. I had been banking with NatWest for over 20 years and I knew that my credit search has no blips, it was just low, so I gave it a chance and it was agreed. I bagged a great limit and was able to transfer my remaining balances for less than 25% of my balance. And will clear it with the 22 months I’ve been given.
this will save me so much as I’ve built up my credit file from having poor credit and high interest rate card.
I’m so happy 😃 

vm1468

When the 0% offer has ended for BT does the bank/provider offer you another term or do you need to close the card and go elsewhere?  

[Deleted User]

You're unlikely to get another offer as it's a further loss for the lender.

You don't need to close the card.

J1mgg_2

Is there an amount of time between using the same bank, say I had a 0% balance transfer card from Sainsbury's 3 yrs ago, can I apply for another after so long?

[Deleted User]

J1mgg_2 said:

Is there an amount of time between using the same bank, say I had a 0% balance transfer card from Sainsbury's 3 yrs ago, can I apply for another after so long?

It depends on the provider, NatWest told me I could apply as soon as it was closed, if you closed it 3 years ago (fully paid off) I doubt there is anything that will stop you getting the card 

PowerSavingMode

If I already have an existing balance transfer on a card from say 6 months ago, and I've been offered another promotional rate, would it be wise to move another balance over now? I'm confused as to how the two balances would be treated, and if the new transfer would cancel out the first promo rate.

grumbler

DJDools said:

If I already have an existing balance transfer on a card from say 6 months ago, and I've been offered another promotional rate, would it be wise to move another balance over now? I'm confused as to how the two balances would be treated, and if the new transfer would cancel out the first promo rate.

You can have more than one promotional balance. If interest rates are the same then payments are normally allocated to the balance with the closest expiry date of the promotion - do check your CC T&C for how the payments are allocated.