Super Balance Transfers - Alliance & Leicester say it won't work

lisalisa_2

I was quite fired up at the articles on Super Balance Transfers in the Credit Card Section needing a loan and wanting to find the best rate. A CC loan with a balance transfer to my account at 0% interest for 9 months sounded like the best idea. I called Alliance and Leicester as throughout their online application form it states that the 2% balance transfer fee may be applicable and I wanted to corroborate Martin's advice that if we state that we want this balance transfer at the time of application, A & S will not charge the fee.

The woman I spoke to was very clued up about this and straight away identified that I wanted a super balance transfer of and said that the 2% was payable. I read to her from this site line by line and she said that even if making the stipulation at the time of application the fee would still apply as "the computer is not set up to accept these type of applications".

Going to try Virgin although i still wanted to thank Martin as 2% of my requested loan is only £200 which is a small price to pay for 0% interest at 9 months.

lisalisa_2

And Virgin say they do not offer a totally free SBT either although at a fee of only £35 it works out cheaper.

Rafter

lisa,

The card operations of A&L and Virgin are both run by MBNA so that is why you get the same story.

If you have an existing Egg card you can do a transfer from your new A&L or Virgin Card to Egg and then a free SBT from egg to whereever you like.

NB - this doesn't work on new egg cards which charge a 2% fee during the intro period.

R.

YorkshireBoy

lisalisa wrote:

And Virgin say they do not offer a totally free SBT either although at a fee of only £35 it works out cheaper.

The A&L is capped at £35 as well according to their summary box.

Have you made an application for the A&L card? If you have, then you won't get accepted by Virgin (both run by MBNA).

If not, ring Virgin and check again. Hopefully you'll get a CSR who is familiar with the Virgin T&C's - ie all BT's are fee-free for the entire 9 month 0% period. When you get someone who agrees that this is the case, take their name, ext number, date & time and keep it somewhere safe.

reddevilled

I had no problem BTing onto my Virgin card and the guy I spoke to was very helpful. I have often found that if you don't get someone very helpful, just ring back 5 mins later and you could be lucky!

lisalisa_2

thank you that's very interesting. I don't have an egg card unfortunately.

I hadn't thought of redialling to find another CSR who would agree that there is no fee. I have however already applied online to Virgin. If they approve my application would it be too late at that stage to contact them and try and get the application approved as being with no fee\/

YorkshireBoy

lisalisa wrote:

If they approve my application would it be too late at that stage to contact them and try and get the application approved as being with no fee

No, you can check/negotiate/remind them of the Virgin T&C's when you call to activate the card.

MastG

Hi ,
I read the T&C on A&L website earlier, after reading the original post here and :
* We may charge a handling fee for each balance transfer of 2% of the amount transferred, and will charge a handling fee for each cheque transaction of 2% of the transaction amount (minimum £2, maximum £35 per transfer or cheque).
We will charge a 2% handling fee (minimum £2, no maximum) on cash transactions, and 2.75% commission on the amount of any foreign currency transactions. There is an annual fee of £0.

I hope this helps

YorkshireBoy wrote:

The A&L is capped at £35 as well according to their summary box.

Have you made an application for the A&L card? If you have, then you won't get accepted by Virgin (both run by MBNA).

If not, ring Virgin and check again. Hopefully you'll get a CSR who is familiar with the Virgin T&C's - ie all BT's are fee-free for the entire 9 month 0% period. When you get someone who agrees that this is the case, take their name, ext number, date & time and keep it somewhere safe.

YorkshireBoy

MastG wrote:

* We may charge a handling fee for each balance transfer of 2% of the amount transferred, and will charge a handling fee for each cheque transaction of 2% of the transaction amount (minimum £2, maximum £35 per transfer or cheque).

I believe the "we MAY" is their way of reserving the right to make a charge, but not necessarily doing so in the 9 month introductory period.

Martin Lewis has contacted Virgin (MBNA?) and asked them for clarification - albeit several months ago. They assured him that ALL BT's made in the Virgin introductory period were fee-free. I'm not sure if this is the same for the other "branded" MBNA cards though?

I have made my own enquiries when I obtained my Virgin card earlier this spring (and since), and have the names/details of 4 separate Virgin/MBNA CSR's who have confirmed the fee-free element of the T&C's.

HTH

Andy.T_6

I was juggling round some debt - and in the process of moving balances and getting myself a virgin 0% for 9 months I accidentally, and I do mean it, had virgin pay off a 3.5k barclaycard balance which I'd already temp shifted to cahoot. Leaving a 3.5k positive balance. Which resulted in my calling barclaycard who offered to put it straight into my current account. needless to say my overdraft went too and the lot is now with virgin at 0%. No fees, happy days.

Andy

lisalisa_2

I also read in the terms and conditions of A&L that "we may" charge this 2% fee whcih is why I called them to try and clarify that there would be no fees but the woman I spoke to said that there definately would be a fee of 2% and even worked out what the fee would be based on my needs. virgin mentioned the max £35 fee but A & L said there was no max.