Questions about Balance Transfers 7 January 2008 at 1:09PM edited 30 November -1 at 12:00AM in Credit Cards 483 replies 104.4K views

zx81

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?

zx81

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?

zx81

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...

zx81

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?