Questions about Balance Transfers

[Deleted User]

It's the fee you pay for transferring money into your account from your card.

MallyGirl

It means that you will pay a one off fee of 4% of the amount transferred.

thebusylizziebee

Hi. I have a low balance to capacity ratio on my credit card (50%) and my credit score has gone up as a result. If I do a balance transfer will this affect my ratio and therefore my credit score?

[Deleted User]

Probably, but that's not important.

Your debt will remain the same, so lenders will view you as the same risk.

SimonBradley

Can you do a balance transfer to pay off a Next account?

[Deleted User]

No, but you can do a money transfer or even a straight purchase with Next, I believe.

Lucynal

How do I do a balance transfer to an existing credit card without a promotional rate of interest on balance transfer, just a standard rate transfer?
All links to balance and money transfers on my several credit cards disappeared in the last couple of months! Don't understand...

[Deleted User]

Contact the card provider in question. They'll let you know how and if they'll process if for you.

LinaG

Hello,
I have just applied and got my first Balance transfer credit card. However, I did not know that I cannot make a balance transfer if it is from the same bank/provider. I am with RBS for many years and I assumed I could transfer my old credit card amount to the new cc. I tried to open another one a few days later from another bank, but I was rejected probably because I just got a new one. Do I close this new card and try again for another bank in the future? What are my options? Thank you, Lina

LinaG

My partner is a guarantor for his friend who suddenly passed away. We have been repaying his loan for more than toi year. Can we get out money back?