Overtransferred credit

Xaero_2

Hi all.
Just a quick summary to start

I owed approx £1700 at the end of my 0% barclays credit card on purchases, I can't afford to pay it off so have done a transfer.

I applied for ulster bank and abbey zero balance transfers credit cards, both offered me £1700 but could only transfer £1200 to start with, and both automatically just went through with my request, although abbey transferred 1250 for some reason.

So I now owe £2450 to these 2 different cards, and am £700 in the black on my barclays card. What can I do here? I don't want to pay barclays a balance transfer fee if possible (the whole point of me applying to those transfer cards was for this).

Is there a stoozing opportunity here?

I know when I paid off my ex's credit card (one reason I'm carrying debt myself now) it overpaid and she got a cheque for the over paid amount as it kept giving her interest on it.

Thanks!

methusala_2

yup you can ask Barclays for a cheque, no CC operator likes positive balances

antuk

methusala wrote: »

yup you can ask Barclays for a cheque, no CC operator likes positive balances

Really? If thats the case whats the point of the special SBT cards then, could you not just BT to any card to take the balance positive and then call up and ask for a cheque?

epsilondraconis

antuk wrote: »

Really? If thats the case whats the point of the special SBT cards then, could you not just BT to any card to take the balance positive and then call up and ask for a cheque?

I thought the same when I read this thread earlier. I too would be interested to see if anyone knows the answer to this.

YorkshireBoy

There's generally no problem getting small overpayments back. In fact I've recently had £100+ refunded from one of my stoozing cards in the form of a cheque (didn't read the DDI and they collected the minimum payment even though I had a zero balance well before the due date).

However, I'd say £700 was going to raise a few eyebrows with some providers, especially if you make a habit of it. Indeed, Halifax say in their T&C's they may return the funds from whence they came, ie the other card.

The fact remains that Egg Money is the best product for positive balance SBT use, being that it is fee-free, is allowed in the T&C's, and has a £99,999.99 facility.

epsilondraconis

Cheers YorkshireBoy - good feedback once again...

Xaero_2

I guess I better phone and ask barclays what they are going to do then, might even get to choose which card to pay it back too.

Xaero_2

I asked barclays and they said they will transfer it into my bank account and would not send a cheque due to security reasons. :cool: