Questions about Balance Transfers

bob5

I have a credit card that is coming to the end of its 0% balance transfer offer.So i will be charged interest but I am unable to get another credit card at 0%. How do u go about this?

poker_face

bob5 wrote: »

I have a credit card that is coming to the end of its 0% balance transfer offer.So i will be charged interest but I am unable to get another credit card at 0%. How do u go about this?

You should find some help Here

moominmama_2

I have a Tesco Credit Card with 0% on both balance transfers and purchases for equal lengths of time which are both facilities I take advantage of. I have not reached my full balance transfer limit yet but because I have put purchases on the card too if I do any further transfers the total balance of the card will exceed 95% even though the balance transfers are nowhere near that. Is this ok or wil I be penalised? Sorry if this is confusing but I couldn't find a good way to explain it!

Thanks in advance if anyone can help

NickX

moominmama wrote: »

if I do any further transfers the total balance of the card will exceed 95% even though the balance transfers are nowhere near that. Is this ok or wil I be penalised? Sorry if this is confusing but I couldn't find a good way to explain it!

As long as you don't exceed your Credit Limit you should be fine.

The 95% refers to a limit on the amount Balance Transferred of 95% of the "available credit" not the "credit limit".

The reason for this is to allow room for a Balance Transfer fee without exceeding your Credit Limit.

Hope this helps.

Katie_Hawkins

hi,

I currently have £900 left to pay off of an over draft (that used to be a student account) and am now apying 15% interest.

If i applied and was accepted for an 12 month interest free credit card, would i be able to transfer the £90o from this other account, or not as its not a store card or another credit card?

Hope that makes sense

Kate

raidz

I am questioning whether I should do a balance transfer now.

martin_c_4

Hi Katie,

Yes you would be able to do that, and if you are paying 15% on your o/d then you NEED to do it.

I was in a similar position and I went for an egg card which allows you to balance transfer to a current account even if you dont' have an overdraft on it.

So...

get a card that you are allowed to do balance transfers to a current account eg egg card

contact egg and balance trasnfer £900 to the account where your o/d is.

so your o/d is now £0

and the balance of your egg card is (£900 + transfer fee amount eg. 3%) = £927

in an ideal world and pennies allowing you would then look at paying this off within 12 months

£927 / 12 = £77.25

ideal monthly direct debit for 12 months = £77.25

hope this helps!

OasisFanboy

Hi guys.

I have two 0% ccards (Ulster and Abbey Zero), both of which approx 1,500 debt.

They are coming to the end of their offers, so I need to do some tarting.

I suspect Virgin will be the best 0% offer for me for 16 months- especially as I can do a Super Balance Transfer with my current account OD.

However, I tarted onto Abbey and UB FROM a Virgin CC (long since settled and closed). If I take out another Virgin cc (or an MBNA Plat) as a previous MBNA Group customer am I still eligible for the 0% offers? Or do I need to tart elsewhere (any suggestions?)

OasisFanboy

Can anyone help?

sarahs999

You should be OK ( how long ago did you close the account?). I think you'd be treated as a new customer, but maybe you could ring and ask? You don't have to give any details, just give them a 'what if' scenario