International Balance Transfer

davetaggart123

New to the forum, so Hello to all! I've heard good things about these boards and that there is alot of good advice for newcomers like myself.

I've recently relocated back to the UK after being out of the country for 15 years in Canada. My move is permanant.

I have about £7000 in credit card balances in Canada that I am currently aggressively paying off.

My problem is that I am losing money transfering cash to my canadian accounts and the exchange rate is lessening the power of my pound.

Is it possible for me to transfer my Canadian visa and mastercard balances to a UK card? I've noticed that there are many cards here with 0% balance transfers with small % fees attached.

Any help would be greatly appreciated, and once again, hello to all!

skyrider007

I think this is virtually impossible, unless the card is an American Express (they *might* be able to do a "global transfer" for you). The best solution is keep an account open in Canada and occasionally wire the money you get in the UK into that account to pay off the CC debt.

YorkshireBoy

Arch_23 wrote: »

Maybe apply for a MBNA card with a super balance transfer facility which allows you to transfer money direct to your bank account.

Could be difficult, since the OP presumably has an empty credit file (having been out of the country for 15 years)?

Arch_23

you're right I'm the last person who should be giving advice here. :rolleyes:

davetaggart123

YorkshireBoy wrote: »

Could be difficult, since the OP presumably has an empty credit file (having been out of the country for 15 years)?

Was out of the country since being a young teen.

Currently back in the UK. No credit, although I'm doing all I can to build it (account, DD's, potential CC) Working at very well known country making short of £20k per year.

Would my salary allow me to get a loan to lump sum pay this off then pay the UK loan off over time?

Doctorman

I have a similar problem to the opener of this thread - I am Australian, domiciled in the UK (I have residency), but have about 500 quid (1200 AUD) worth of debt on a card back home. I was led to believe that transferring the balance would not be a problem with a mastercard, which I got (MINT), but they tell me it can't be done. Now I'm p*ssed off, have a CC I don't need and the account in Australia I was using to pay it off is nearly dry. Any advice?