Questions about Balance Transfers

TonySoprano

DAF95 wrote: »

Is there a card company that will accept customers with low income?

Its mainly done on credit score they have no way of checking your income other than taking your word for it or calling your employer but these types of checks are labour intensive its cheaper to turn you down automaticaly

However some do use fraud detection systems. This is where you may have applied elsewhere and stated what your income is. These systems look for patterns in your applications across all systems not just a single company

monymusk

Can you transfer multiple balances to a single balance transfer card? Presuming so, and that the credit limit on the balance transfer card is the only limiting factor, what is a typical credit limit these cards generally carry?

grumbler

Yes you can.
A "balance transfer card" is a usual card with some BT offer available at the moment. As for any CC the limit depends on very many factors, including your income, credit history, total credit available and used.

g1370200

Hi guys,
I have a Barclaycard Platinum Visa that I used to transfer a balance from a Natwest Credit Card for 0% for 24 months. However, I had to purchase something on the card and am now paying interest on that debt. Is it possible to only transfer that part of the debt on my Barclaycard to another 0% card? I don't want to try to BT all the debt as it would mean applying for a higher limit etc, which may not be successful.
Thanks.

grumbler

Yes, it is possible.
A payment from the other card provider to Barclaycard will go towards the part of the balance with higher interest rate.

g1370200

grumbler wrote: »

Yes, it is possible.
A payment from the other card provider to Barclaycard will go towards the part of the balance with higher interest rate.

OK, so it is just a case of asking the new card provider for a balance transfer of the amount I spent on the Barclaycard. Thanks for your quick response.

scootw1

Is it possible to balance transfer a balance which is not there yet? What I mean ism, say you have paid something out which has been taken off the available credit but isn't part of the actual balance. And if I was shopping on a card this Saturday for instance and transferred the balance + expected shop tomorrow night the transfer would take place Monday and the CC company would get their money Tuesday. Presumably I would be able to do this as the balance itself would actually change Monday night?

eg. Balance now : 220
Shop : 60
request balance trasnsfer tomorrow of 280. Would this go through just after the balance updates or would I risk the CC account going into credit (which I don't think is allowed)

Many thanks

Rachylou1981

scootw1 wrote: »

Is it possible to balance transfer a balance which is not there yet? What I mean ism, say you have paid something out which has been taken off the available credit but isn't part of the actual balance. And if I was shopping on a card this Saturday for instance and transferred the balance + expected shop tomorrow night the transfer would take place Monday and the CC company would get their money Tuesday. Presumably I would be able to do this as the balance itself would actually change Monday night?

eg. Balance now : 220
Shop : 60
request balance trasnsfer tomorrow of 280. Would this go through just after the balance updates or would I risk the CC account going into credit (which I don't think is allowed)

Many thanks

You will have to wait until the final balance that you want to transfer reaches the card before you can do the transaction. I have just done this very thing. Only took a few days.

scootw1

Rachylou1981 wrote: »

You will have to wait until the final balance that you want to transfer reaches the card before you can do the transaction. I have just done this very thing. Only took a few days.

So put the transfer in Monday which will go through barclaycard Tuesday and reach the other account by Wednesday. Sound about right?

Rachylou1981

scootw1 wrote: »

So put the transfer in Monday which will go through barclaycard Tuesday and reach the other account by Wednesday. Sound about right?

Not sure it is that quick. I did mine on Tuesday, balance was gone from original card yesterday but is not showing on other card yet (although the credit limit is showing it has).

I was just implying that you need to wait until the amounts are showing on statements before you can do anything with them i.e. pay them or transfer them.