Best Balance Transfers Discussion Area

JimmyTheWig

cook2489 wrote: »

This is first post not sure if i am in the right place i want to transfer a balance having being doing this for a while running out of credit card companies i havent already used can i appl to a credit card company that i had a card with before or should i close the accounts with them and then reapply i was told by someone not to cancel credit cards when i had cleared them as this could damage my credit rating could anyone help thanks
:money:

I think that you will have a problem applying for a credit card with a company where you already hold a credit card.
I have read on this site that it is best to close a credit card account once you are finished with it, unless it is a card thta you know does future offers for existing customers.
I believe that most companies will insist that you wait some time after closing an account before they will let you open a new one as a new customer.

Moggles_2

Originally Posted by cook2489
I want to transfer a balance. Have been doing this for a while and I'm running out of credit card companies I haven't already used. Can I apply to a credit card company that I had a card with before?

Lenders vary in this respect, as with everything else. Barclaycard, HBOS, Royal Bank of Scotland and MBNA allow customers to hold more than one card from their range.

That said, it might be an idea to close down some of those you no longer use.

Moggles_2

Originally Posted by cook2489
... or should I close the accounts and then reapply?

Unless a card has a particular benefit, then I would cancel. Firstly, having loads of credit, even if not used, can put off potential lenders and secondly, by cancelling a card you can re-apply to that provider as a 'new' customer and take advantage of the introductory deals on offer.

Another good reason for phoning customer services to cancel an unused card is that occasionally you're offered an incentive to stay;)

Note: Some (eg. Barclaycard) will not consider applications from former cardholders in the 6 months following closure. The Royal Bank of Scotland stable (which includes Lombard Direct, Mint, NatWest, Tesco & Ulster Bank, as well as RBS itself) makes former customers wait 8 months and in the case of Egg, it's 12 months.

Former cardholders are free to re-apply for another Nationwide credit card, but do not qualify for the 0% introductory rate the second time round. At the other extreme are Capital One, HBOS, Marks & Spencer and MBNA. They accept applicants a month or so after closure.

molley

Moggles wrote: »

Unless a card has a particular benefit, then I would cancel. Firstly, having loads of credit, even if not used, can put off potential lenders and secondly, by cancelling a card you can re-apply to that provider as a 'new' customer and take advantage of the introductory deals on offer.

Another good reason for phoning customer services to cancel an unused card is that occasionally you're offered an incentive to stay;)

Note: Some (eg. Barclaycard) will not consider applications from former cardholders in the 6 months following closure. The Royal Bank of Scotland stable (which includes Lombard Direct, Mint, NatWest, Tesco & Ulster Bank, as well as RBS itself) makes former customers wait 8 months and in the case of Egg, it's 12 months.

Former cardholders are free to re-apply for another Nationwide credit card, but do not qualify for the 0% introductory rate the second time round. At the other extreme are Capital One, HBOS, Marks & Spencer and MBNA. They accept applicants a month or so after closure.

And if you do cancel a card then there is no temptation to start using it again and maybe get in a mess.

Moggles_2

Moggles wrote: »

Note: Some lenders (eg. Barclaycard) will not consider applications from former cardholders in the 6 months following closure. The Royal Bank of Scotland stable (which includes Lombard Direct, Mint, NatWest, Tesco & Ulster Bank, as well as RBS itself) makes former customers wait 8 months and in the case of Egg, it's 12 months.

Former cardholders are free to re-apply for another Nationwide credit card, but do not qualify for the 0% introductory rate the second time round. At the other extreme are Capital One, HBOS, Marks & Spencer and MBNA. They accept applicants a month or so after closure.

In all cases, it's advisable to check your credit reports to make certain the account is actually closed down and marked "settled" before you re-apply.

molley

Just got my new BT'd card from Halifax this morning and called the number (0870 please note:mad: ) to activate it and on an automated system entered the card number,expiry date,3 dig number on reverse and my d.o.b. I then expected that to be it but I get transferred to a human who asked me some of the same info again plus my employment status and asked for a mobile number ( in case they can't get me on my home phone) .I said they would get me on my home phone as I am always there .He then asked about Card Protection and I said I didn't want that .I then asked him what all this had to do with activating a card .I said I didn't expect to call up only to be sold stuff. He said he wasn't trying to sell me stuff .just making sure I was aware of such products .. He then wished me a happy retirement ( it only happened about 8 years ago FGS).:mad:

Moggles_2

molley wrote: »

Just got my new BT card from Halifax this morning and called the number (0870 please note:mad: ) to activate it. On an automated system entered the card number, expiry date, 3 dig number on reverse and my d.o.b. I expected that to be it, but I get transferred to a human who asked me some of the same info again plus my employment status and mobile number (in case they can't get me on my home phone). I said they would get me on my home phone as I am always there. He then asked about Card Protection and I said I didn't want that. I asked him what all this had to do with activating a card. I didn't expect to call up only to be sold stuff. He said he wasn't trying to sell me stuff. Just making sure I was aware of such products. He then wished me a happy retirement (It only happened about 8 years ago FGS).:mad:

Virtually all card companies try to flog you insurance etc. during the activation process, but it's particularly irritating when you're paying over the odds for the call. Btw, you can avoid the wretched 0870 number by ringing Halifax Card Services on 01422 380880;)

molley

Moggles wrote: »

Virtually all card companies try to flog you insurance etc. during the activation process, but it's particularly irritating when you're paying over the odds for the call. Btw, you can avoid the wretched 0870 number by ringing Halifax Card Services on 01422 380880;)

Thx for that number .I could have called from my mobile for free had I known that before . saynoto0870.com ( which I always forget about) also lists .

0845 6047000 029 20446001 and 08003893456

Chopper98

I currently have a cred card but have no debt, does anyone know the best current deal if I want to get a credit card and shift the balance to an ISA?
Cheers!

Moggles_2

Chopper98 wrote: »

I currently have a credit card but have no debt. Does anyone know the best current deal if I want to get a credit card and shift the balance to an ISA?

Which credit card do you have at the mo?