Questions about Balance Transfers

Fruit_and_Nut_Case

The_Mac wrote: »

I think it would prove very useful if MSE.com could list the major sourcing banks and against each show which credit companies/cards they provide funds to.

Something like this, you mean?
http://www.stoozing.com/cards.htm

The_Mac

Many thanks, Fruit and Nut Case. I've also learned what the term 'stoozing' means as well now!

lottylou

Hi

This may seem like a silly question, but... I have had a Virgin credit card for a couple of years now, which I transferred an overdraft onto. Last year I spent on the card- which, yes I know I shouldn't have done but it was an emergency!
Now the interest per month is rocketing. If I transfer this to a new card (thinking Egg) does this wipe the slate clean in terms of 'spending on balance transfer'
I.e if I don't spend on the new card will the interest payments go back to a managable level?
Hope that makes sense!

alexinmancs

lottylou wrote: »

Hi

This may seem like a silly question, but... I have had a Virgin credit card for a couple of years now, which I transferred an overdraft onto. Last year I spent on the card- which, yes I know I shouldn't have done but it was an emergency!
Now the interest per month is rocketing. If I transfer this to a new card (thinking Egg) does this wipe the slate clean in terms of 'spending on balance transfer'
I.e if I don't spend on the new card will the interest payments go back to a managable level?
Hope that makes sense!

The new CC doesn't care what the rate was from the previous card. Just make sure the new CC will accept a BT from Virgin since MBNA has their fingers in many pies. Maybe before you apply you give them a ring and confirm
Just make sure you never use the new CC for any purchases or else you'll have the same problem!

Coventry_kid

Hi I want to balance transfer from my Post office CC to Virgin to clear the debt but still want to keep my PO card as I'm going abroad this summer and I think the PO card is the best for use overseas. Is this possible or do I have to close my old credit card account.:doh:

CannyJock

Coventry_kid wrote: »

Hi I want to balance transfer from my Post office CC to Virgin to clear the debt but still want to keep my PO card as I'm going abroad this summer and I think the PO card is the best for use overseas. Is this possible or do I have to close my old credit card account.:doh:

No you don't need to close your old account.

lovethemovie

Hi

I transferred £2000 to my visa barclaycard a year ago. I've recently moved house so spent on my barclaycard mastercard approx £1700.
The transfer on the visa was fixed at 6.9% until paid off. There's £1300 approx left on it.
Can I ask barclaycard to give me a better deal on my mastercard only? Will/can they ask to reset the balance transfer?
The APR for the mastercard is the standard 19.9% but I've had credit cards with them for 15+ years. I pay over the minimum amount and never paid late. However, I became disabled 5 years ago and no longer work (which I have never actually told them, so not sure if they know somehow) so will they ask me what my income or occupation is? - as this will obviously affect my credit scoring. I don't think I can apply to a new company for a card due to not working/low income. I froze my credit card and still paying a bit off it monthy so can't ask them to take a balance transfer.

Many thanks,
Anthony

CannyJock

lovethemovie wrote: »

I transferred £2000 to my visa barclaycard a year ago. I've recently moved house so spent on my barclaycard mastercard approx £1700 (19.9% APR).
The transfer on the visa was fixed at 6.9% until paid off. There's £1300 approx left on it.
Can I ask barclaycard to give me a better deal on my mastercard only?

They're separate cards so you can try. Ask them if they can move your mastercard balance to a 6.9% LOB deal to match the visa deal. Meanwhile, be sure to make the minimum payments on the 6.9% card while paying as much as you can as often as you can to your 19.9% balance.

You might want to make them aware of your change of circumstances - they may take your reduced income as a reason to reduce your credit limit, always a risk.

lovethemovie

Thanks. If anyone else can shed any more light on the situation I'd appreciate it.

pulpitdod

can a spouse or partner transfer cc between each other's accounts?