Best Balance Transfers Discussion Area

NickX

rosarmitage wrote: »

If I take out the new 0% credit card can I put the outstanding debt from all the cards onto it?

Well you can only do this if they give you a Credit Limit which is greater than the total amount of debt. But in essence the answer is yes, you can transfer multiple card debts to a single card.

Bear in mind that most providers will only allow you to transfer up to 95% of the Credit Limit and a Balance Transfer fee of 2-3% usually applies.

rosarmitage

NickX wrote: »

Well you can only do this if they give you a Credit Limit which is greater than the total amount of debt. But in essence the answer is yes, you can transfer multiple card debts to a single card.

Bear in mind that most providers will only allow you to transfer up to 95% of the Credit Limit and a Balance Transfer fee of 2-3% usually applies.

Thanks for the advice - much appreciated

caddish

It looks like this may now have gone. The web site link talks about 9 month 0% balance transfers but with a 1.5% fee in the small print "unless you qualify for exemption". Anyone know more about this?

Moggles_2

caddish wrote: »

It looks like this may now have gone. The web site link talks about 9 month 0% balance transfers but with a 1.5% fee in the small print "unless you qualify for exemption". Anyone know more about this?

The standard Ulster Bank card now charges a 1.5% balance transfer fee, but if you're looking for a totally free BT, the Ulster Bank Gold card still offers 0% BTs for 6 months from account opening and there's no handling charge. Issued by the Royal Bank of Scotland, it's well worth considering for balances under £4,000

Note: annual income of at least £20,000 required.

Moggles_2

Capital One has relaunched its balance transfer cards. The Balance Transfer & Purchase card now offers 0% on BTs until 1 December 2009. With the Platinum card you get 0% on BTs and purchases until 1 November 2009. Is this an all-time record for 0% on purchases?
http://www.capitalone.co.uk/creditcards/cards.jsf

Note: these cards require an "excellent" credit rating, so please check you can meet the criteria listed on the C1 website (e.g. have a credit card with credit limit of at least £5,000, held a card for 5 years etc.) before you apply.

gotenks1321

Hi,

Just a quick question that's probably really quite obvious lol

I've finally managed to sort my money situation out and have offered to help my parents at the same time. They have a capital one credit card that I'd like to transfer over to my barclaycard with 14 month interest free balance transfer. The only problem is that they're quite a bit over their agreed limit. My limit is enough for this not to matter but will capital one allow them to transfer as they're over their limit?

Thanks

NickX

gotenks1321 wrote: »

The only problem is that they're quite a bit over their agreed limit. My limit is enough for this not to matter but will capital one allow them to transfer as they're over their limit?

This shouldn't be a problem. The choice is not Capital One's to make.

Provided Barclaycard agree to process the transfer, then the funds go to Capital One and the debt is paid off whether they like it or not.

Remember that there may be excess charges or residual interest that could have been incurred since the last Capital One statement balance.

gotenks1321

NickX wrote: »

This shouldn't be a problem. The choice is not Capital One's to make.

Provided Barclaycard agree to process the transfer, then the funds go to Capital One and the debt is paid off whether they like it or not.

Remember that there may be excess charges or residual interest that could have been incurred since the last Capital One statement balance.

Thanks They'll be completely over the moon :j as they've been struggling with this for 10 years it seems! I only found out today quite how deep they're in. Is there any reason that Barclaycard could decline the transfer? They're in the region of £500 over their limit :eek:

NickX

gotenks1321 wrote: »

Is there any reason that Barclaycard could decline the transfer?

Well Barclaycard are not necessarily obliged to agree to Balance Transfer. There have been reports of just not wanting to complete a Balance Transfer for specific customers.

In addition, they need to be able to process the specific Capital One card through their systems. Occasionally its just a case of "computer says no".

So, keeping fingers crossed :beer:

gotenks1321

Thanks. Fingers crossed over here too :T