New Top Balance Transfer Card – Get a sneaky extra month of 0%

YorkshireBoy

Troubleatmill wrote:

Woo Hooo!

Barclaycard arrived today £10K limit - and managed to put £5K from other cards on it. at 0% for 10 months.

Nice one Martin!

The other £5K is "wasted" available credit though isn't it? I mean, with the order of payments, if you were to make a purchase with the card then this would attract interest from day 1 until you'd paid off the BT. Or am I missing something?

b44rch

Bummer, received a letter today saying my application had been rejected because of outstanding credit...

charlie12

YorkshireBoy wrote:

The other £5K is "wasted" available credit though isn't it? I mean, with the order of payments, if you were to make a purchase with the card then this would attract interest from day 1 until you'd paid off the BT. Or am I missing something?

Correct, anything over 5k is a "waste" - best to reduce the limit to 5k after doing the 0% BT to reduce the amount of overall credit that will show up on credit reports. Best to reduce the limit after doing the BT, because AFAIK you can only BT a certain percentage of your limit (around 90-95 percent I think).

Derek_Duval

b44rch wrote:

Bummer, received a letter today saying my application had been rejected because of outstanding credit...

Same here, a load of crap as I've got an excellent credit rating, excuse is I've got too much debt already, & they fear I won't beable to repay the debt. It's a shame that telling them I've got more money in savings than debt won't help!
Applid for a RBS card at the same time & have been accepted. It would be great to know how each CC co assesses you.

Troubleatmill_2

YorkshireBoy wrote:

The other £5K is "wasted" available credit though isn't it? I mean, with the order of payments, if you were to make a purchase with the card then this would attract interest from day 1 until you'd paid off the BT. Or am I missing something?

Yep. But I don't need the other £5k credit.

And I don't intend to use the card either.

What's not to like? ;-))

xlt_hunter

Got mine this morning £3500 limit - very happy now.

bleugh

cool, just applied as my tesco card runs out in december

oldagetraveller

Thanks Martin. applied online Saturday and received card this morning. £3500 limit. Just right to transfer that Sainsbury's 0% on purchases balance then use that card for any further purchases and pay off each month.

wendyryan

no they don't, it says 'we are processing your applicatoin'

emess48

applied straight away after reading about it.Just had a reply & guess what...its been withdrawn & replaced with the 2% fee.