Best Balance Transfers Discussion Area

JimmyTheWig

I think Moggles' point is that this thread is drifting off topic.
Looking back, no one post or poster is to blame, but like I say it's drifting.

For the amount of hard work he puts in and advice he gives on these threads, Moggles deserves Mod Status!

molley

JimmyTheWig wrote: »

I think Moggles' point is that this thread is drifting off topic.
Looking back, no one post or poster is to blame, but like I say it's drifting.

For the amount of hard work he puts in and advice he gives on these threads, Moggles deserves Mod Status!

You could well be right but I didn't like the aggressive way he responded ....maybe not intended but that's the way it came across .

Moggles_2

molley wrote: »

You could well be right but I didn't like the aggressive way he responded ....maybe not intended but that's the way it came across .

MSEs viewing this sticky are interested in best balance transfers. Your post deserves a wider audience.

Angilion

I've been so slack with my credit card that I don't even know what rate I'm paying. The balance is only about £500, so I've just been ignoring it and making minimum payments by direct debit, i.e. exactly what I shouldn't be doing.

I've just looked at my last statement - the interest rate on purchases is 19.9%! Ouch.

High time I did something.

The MBNA 5.9% life of balance card looks just the job, but the link from here refused me because I don't allow every site to set whatever cookies they want to set. So I looked it up with a search engine and found many complaints from USA people about MBNA suddenly increasing the interest rate to as high as 30%! That's put me off. Here's some examples:

http://www.consumeraffairs.com/credit_cards/mbna_rate_hikes.html

So...is it a problem?

YorkshireBoy

Angilion wrote: »

So...is it a problem?

Only if you make purchases after BT'ing to it (and you shouldn't!), or if you breach the T&C's, ie pay late and they withdraw the promotional rate.

Otherwise, life of balance means just that...life.

clairelem

I want to transfer the balance of credit cards to another 0% card and also some of my overdraft - does anyone know what cards do this please?

Moggles_2

clairelem wrote: »

I want to transfer the balance of credit cards to another 0% card and also some of my overdraft. Does anyone know what cards do this please?

A few rather special cards will allow you to transfer an overdraft to them, (in other words, transfer cash from the credit card to your current account), at balance transfer rates.

a card issued by MBNA (e.g. Alliance & Leicester, MBNA itself, Sony, Virgin), Egg card or the Post Office card

alternatively, you can use Egg Money (not to be confused with the Egg card) in conjunction with any 0% or low-rate balance transfer card.

Mint periodically issues credit card cheques, which can be paid directly into your current account. Unless you already have them, this is the least satisfactory option, as Mint cheques cannot be ordered and you never know when the next ones will turn up in the post.
Note: other lenders (eg. Barclaycard, Halifax) issue credit card cheques from time to time. These can be used to settle bills, but if you paid one into your bank account, you'd be charged for a cash withdrawal - not recommended, not unless you have money to burn :eek:

Which of the above is best depends to some extent on which cards you have at the mo. To maximise the 0% period, 15 months is currently available to new customers from Virgin. There's a 2.98% handling charge. Alternatively, you'd get 14 months with Egg card. Once again, a 3 % BT fee applies.

srobo

Hi,

I just have a question about balance transfers. II am looking at getting a '0% on balance transfers credit card' to pay of an overdraft with HSBC. Is this possible? Most of the text on here on balance transfers is about transfering from another credit card or store card. If anyone has any information for me please let me know.

Many thanks

endofanera

Hello,

I have the remains of a joint loan that I now want to split and pay off my share individually. Is there a way to transfer loan debt onto a credit card?

The remaining debt is about £3000 and I would have £1500 to pay off.

Thank you in advnace for any guidance you can give.

YorkshireBoy

srobo & endofanera,

I'm not being funny, but doesn't the reply from Moggles (immediately before your posts, and made just 30 minutes earlier) answer your questions perfectly?