Questions about Balance Transfers

Mlud001

Hi. My husband currently has two credit cards (one Barclaycard and one with Tesco) in his name and I am an additional cardholder on both. We are paying interest on both so I am looking to take out a 0% balance transfer card to ease our woes. I have completed an eligibility checker and Barclaycard has come back at 95% whereas all the other providers are at around 50%. My questions are:
1. Can I, as a secondary cardholder; 1. apply for a Barclaycard; and 2. transfer a balance from the existing Barclaydcard (husband) to a new (my) Barclaycard (I suspect not)?
2. Some comparison websites allow you to enter the balance that you wish to transfer, is it right to assume that this will be the limit on that card or is the only way to find out to apply?
3. A lot of the other cards I have done an eligibility check on are around 50%. Is there any negative effect of me applying for several cards if I am rejected for the previous one(s)?
4. If I transfer the balance from the Barclaycard on to a non-Barclaycard, can I then transfer that balance to a new Barclaycard (if I were to be accepted)? And is there a time limit/penalty for transferring a balance in and then out again in quick succession?
5. If he were able to clear the Barclaycard balance to nil and close the account is there any restrictions on my husband applying for another Barclaycard soon after?
6. Will applying/being accepted for a new credit card have any effect on whether I can apply for further credit cards (i.e. if the new card does not have a sufficient limit)?

[Deleted User]

1. No. You can't transfer between cards of the same stable.
2. Limits will be known only when accepted.
3. The searches will appear on your files. Multiple searches can make you look desperate for credit.
4. Yes. You will need to do all transfers within the promo windows.
5. Don't think so.
6. The additional limit, and any balance, will be taken into account by subsequent lenders you apply to.

Mlud001

Sorry, quick follow up question...is it worth talking to the current credit card provider to see if they can offer a better/similar deal to a different provider?

[Deleted User]

It's worth a try but don't get your hopes up.

Lenders are unlikely to want to swap profitable interest bearing balances for ones that incur them costs.

[Deleted User]

You will also need to check whether you can transfer the balance from those cards to one in your name.

Though you are a named card-holder on your husbands cards, the accounts are in his name, and some companies do not allow transfers between accounts in different names

Missy_Mudpie

I have a Next credit account (different to a store card I believe) and would like to use a 0% credit card to clear the balance of my Next account. Can I do that? I'm worried that the credit card will class that as a purchase, rather than a balance transfer.

[Deleted User]

I believe Next accept cards as purchases.

Missy_Mudpie

yes I can use a credit card to pay Next, but I have read that the 0% balance transfer credit cards are only ok to do balance transfers from another card. Martin says never use them to make a purchase on.
I am worried that the credit card will see the payment of Next as a purchase, and also charge me interest!

Are you saying that is what will happen?

[Deleted User]

I'm saying you need a 0% purchases card.

osborne

Hi

I am about to make a large purchase of aprox £2,000 and have no credit card at the moment, I have looked at the options and it appears that the balance transfer deals are the best. Would it be the best option for me to get a credit card to make the purchase and then get a balance transfer deal or get a money transfer card (with higher initial fees) or a spending card?

Also, I'm not clear from the information I have seen if a 0% spending card is just that and you are able to spend on it for anything within the 0% period with no charges at all (assuming you pay off the minimum monthly amount) or if there are fees/charges attached to these cards?

Thanks