Questions about Balance Transfers

[Deleted User]

A purchases card would make more sense and be cheaper, as they have no fees.

joecola

my 0% balance AA credit card is coming to the end and I have just tried to transfer to a HSBC credit card, but it was rejected.
I have seen online people having the same issues. Does anyone know what credit card company/bank would accept the balance transfer (hopefully online so I don't have to go into the bank itself).
Thanks

Joe

CCS1234

Hi,

I have a capital one credit card which I got about 2 years ago, to help improve my credit rating.
I am now in the process of paying it off and it is a small amount, however every month when I go to pay a chunk off at least 1/3 is put back on in interest.So as much as i'm paying off, it's never as much as I think.
I've never missed a payment, and I always pay way over the minimum payment amount, but sometimes just not the full balance as i'm unable to.
I would like to try and transfer the balance to a 0% but when I called up before I believe they told me I was unable to transfer the balance to another card. Is anyone able to advise on this? or have had the same issue?
Thanks

Nojagsjoan

Hi there!
I used a favourable balance transfer offer from Barclaycard to create a credit balance on my Tesco credit card in readiness for car purchase. This transaction did not happen so I requested that the credit balance was transferred into my current account. This action was confirmed to me, however the following day Tesco payments dept contacted me to say that the money had to be returned to Barclaycard. I was not happy and told them that I wanted the fee charged by Barclaycard, also compensation for inconvenience be credited to my current account in this instance. Five telephone calls later and this matter has not been resolved to my satisfaction.
Views and advice please!!

[Deleted User]

Don't try to put your card into a positive balance as it breaches the terms.

Hopefully all you have lost is the fee and they won't close your card.

jonesMUFCforever

Nojagsjoan wrote: »

Hi there!
I used a favourable balance transfer offer from Barclaycard to create a credit balance on my Tesco credit card in readiness for car purchase. This transaction did not happen so I requested that the credit balance was transferred into my current account. This action was confirmed to me, however the following day Tesco payments dept contacted me to say that the money had to be returned to Barclaycard. I was not happy and told them that I wanted the fee charged by Barclaycard, also compensation for inconvenience be credited to my current account in this instance. Five telephone calls later and this matter has not been resolved to my satisfaction.
Views and advice please!!

Just for one moment think about this transaction from Tesco's point of view

---

money comes in to put account in credit

---

then you ask for it to be put into a different account

---

it could (not saying it is) smack of money laundering.

kainem10

I have a current car loan with £10,000 left to pay, at a 7% interest rate. Am i best taking another loan with a littler interest rate (loan elligablity calc suggests i can) or should i use a balance transfer credit card with 0% for up to 30 months? or have i misunderstood the consept of a balance transfer card?

jonesMUFCforever

kainem10 wrote: »

I have a current car loan with £10,000 left to pay, at a 7% interest rate. Am i best taking another loan with a littler interest rate (loan elligablity calc suggests i can) or should i use a balance transfer credit card with 0% for up to 30 months? or have i misunderstood the consept of a balance transfer card?

Is there an early settlement fee on the loan?
Unless your loan provider accepts credit cards (most don't) then a balance transfer card is of no use to you.
You will need a money transfer card.

Do you think you will get a card with a high enough limit and if you do get a card bear in mind the fee for doing the money transfer.
You could be no better off.

Mairi343

Hi so I have about £4500 on my current credit card but I’m not getting anywhere paying it off wanted to look at getting a 0% interest 0 fee card (not 100% necessary) but when I’ve applied for one of the options they’ve given me on here for example Barclays it says there’s a credit limit of £1200 on the new card does that mean I can only transfer 1200 off my current credit card or is that on new purchases? Hope that makes sense but new to all this stuff so any help would be great

[Deleted User]

That's the representative limit. The one you get may be higher or lower.