Restrictions on Balance Transfers

Richie(UK)

Hi all,

I was aware that Egg have imposed a restriction on BTs using their card. That is, BTs are restricted to 95% of available credit.

I wasn't aware, until I did a BT, that Intelligent Finance have a similar restriction (at 90%). I don't recall seeing any mention of this in the Ts & Cs. Anybody else come across this? More importantly, does anybody know if you are able to do a second BT and take 90% of what is left (I'll settle for 2 BTs and 99% in total ).

Do all cards now have a provision similar to this?

fatboyonadiet

Most do, I know from experience that M&S DON'T

johnllew

Citibank: 90%

MBNA: 95% (used to be 98%) IME

YorkshireBoy

Richie(UK) wrote:

I wasn't aware, until I did a BT, that Intelligent Finance have a similar restriction (at 90%). I don't recall seeing any mention of this in the Ts & Cs. Anybody else come across this?

It's 6-8 weeks since I did my IF BT and they let me have 100%, so must be a new ruling. From memory (and it's not good!) I don't think there's a limit to the number of fee-free BT's allowed in the introductory period.

knuckledragger

Virgin = 95%
I felt cheated leaving £600 credit capacity on the card

Richie(UK)

Always get a second opinion!

Better yet, keeping asking the same question until you get the answer that you want!!

Just by way of a follow-up :

I 'phoned IF again to query their BT policy. I was told that the restriction was to cover any charges that may arise and thereby prevent the credit limit from being exceeded. OK, but there aren't any BT charges on this card at the moment. Yes there are, I'm told! :rolleyes:

(Goes away to grab copy of Ts & Cs for reference). 'Phoned IF again and raise same question. What card do you have, I'm asked. Now, given that the automated telephone response gives you a 'Welcome to Intelligent Finance' message I thought this a little odd but, OK - I've got an Intelligent Finance card. Oh, in that case there are no BT charges and no restriction on the amount that can be transferred, says the second adviser. In that case, I'd like to make another BT please :T

It appears as if this particular call centre deals with at least one other card and I was told that this was the reason that the first adviser may have given me the incorrect information.

DJ1UK

Richie(UK) wrote:

It appears as if this particular call centre deals with at least one other card and I was told that this was the reason that the first adviser may have given me the incorrect information.

If are part of Halifax so maybe they deal with other Halifax branded cards?

DJ