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Questions about Balance Transfers
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matthewg156 wrote: »I have been through a few balance transfer cards. Most of the deals are for new card holders, so here's my question:
Can I cancel my cards and become a 'new' applicant again to take advantage of the new cardholder only deals? Is there some sort of period after which the banks consider you a new applicant?
I believe it varies from lender to lender. I had to wait three months. It would be interesting to hear of others experiences.0 -
>> When I do regenerate as a 'new customer'?matthewg156 wrote: »I have been through a few balance transfer cards. Most of the deals are for new card holders, so here's my question:
Can I cancel my cards and become a 'new' applicant again to take advantage of the new cardholder only deals? Is there some sort of period after which the banks consider you a new applicant?0 -
Hello,
I applied online to a Halifax balance transfer card back in June-July. As I was really busy, I didn't return the paper application form they sent me until November. I received a standard letter saying my application had been accepted and asking for proof of address, which I sent in December. I got a standard reply from them in January saying it wasn't acceptable, and had to call (nearly 15 minutes on the phone) to find out why (they needed all the pages of my latest bank statement). I sent them these and they returned them, with a letter saying they had completed their checks. Nothing else, and I shall be moving house next month. Any idea how long I have to wait to know whether I am really accepted or not, and when I will receive the credit card and be able to transfer the monies. Every letter they've sent me (and some of the letters I've sent them, using prepaid envelopes) has travelled second class, which explains the delay, but I'm getting a little bit frustrated. The balances to be transferred are coming from Tesco MBNA and Barclaycard.0 -
Hello,
I applied online to a Halifax balance transfer card back in June-July. As I was really busy, I didn't return the paper application form they sent me until November. I received a standard letter saying my application had been accepted and asking for proof of address, which I sent in December. I got a standard reply from them in January saying it wasn't acceptable, and had to call (nearly 15 minutes on the phone) to find out why (they needed all the pages of my latest bank statement). I sent them these and they returned them, with a letter saying they had completed their checks. Nothing else, and I shall be moving house next month. Any idea how long I have to wait to know whether I am really accepted or not, and when I will receive the credit card and be able to transfer the monies. Every letter they've sent me (and some of the letters I've sent them, using prepaid envelopes) has travelled second class, which explains the delay, but I'm getting a little bit frustrated. The balances to be transferred are coming from Tesco MBNA and Barclaycard.
Sounds like Halifax should be more frustrated than you, given that the majority of the delay is down to you initially not responding for around five months.0 -
I have an overdraft and debts currently with debt collection agencies.. Can I get a 0% balance transfer card to pay off debt collection debts.. Is this classed as balance transferring or spending??0
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missemilylauren wrote: »I have an overdraft and debts currently with debt collection agencies.. Can I get a 0% balance transfer card to pay off debt collection debts.. Is this classed as balance transferring or spending??
Unfortunately you won't be able to get a 0% card as they are only reserved for those with a very good credit history. Since your debts are now with debt collectors your credit history is pretty much ruined.
You should post over on the Debt Free Wannabe board for further advice on how to set a budget and pay off your debts accordingly.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
Sounds like Halifax should be more frustrated than you, given that the majority of the delay is down to you initially not responding for around five months.
I work full time, leaving at 6am, coming back at 7pm at the earliest. I do not sit at home waiting for the postman to bring me forms to fill, and I had more urgent stuff to do outside work hours in the past 6 months (fun stuff like hospice and funeral arrangements).
Anyway the letter arrived yesterday.0 -
so sorry if someone has already asked this question but i'm getting very confused.
I have been offered a 0% BT from FD on £3000 for 27 months at a fee of 2.29%. which should i transfer?
Barclaycard balance £7900 at 24.9% (i know i can only do £3000)
OR
MBNA balance of £3300 at 18.3%
some sites are saying MBNA i guess because the fee is lower and cleared first but :money:is all about the most expensive first.
please HELP
Marion :beer:0 -
Normally it's best to clear the most expensive debt first. Since Barclaycard is 33% more expensive than MBNA, that should be the one you address first.so sorry if someone has already asked this question but i'm getting very confused.
I have been offered a 0% BT from FD on £3000 for 27 months at a fee of 2.29%. which should i transfer?
Barclaycard balance £7900 at 24.9% (i know i can only do £3000)
OR
MBNA balance of £3300 at 18.3%
some sites are saying MBNA i guess because the fee is lower and cleared first but :money:is all about the most expensive first.
please HELP
Marion :beer:
However, clearing all but £300 of the MBNA debt may result in a 0% BT offer being made, which could then take £3K of Barclaycard debt, meaning c£6K @ 0% and c£5K @ 24.9%.
What's the limit on MBNA?
What's your credit rating like (in general, but particularly with MBNA)?0 -
I was thinking just that. The MBNA was originally a transfer card through amazon but then changed hands. The credit limit is £3500. i'm tempted to transfer out the MBNA and pay off the rest and then call them and ask if they will transfer as an existing customer.
The original BT was years ago.
I've no idea about my credit limit to be honest.0
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