Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
Page 8
    • Hamsto
    • By Hamsto 27th Jul 16, 11:24 AM
    • 1 Posts
    • 0 Thanks
    Hamsto
    0% credit card not been allocated enough credit to pay off loan
    Hi,

    I have a settlement figure from a loan of about 5500, I want to shift this debt from the loan to a 0% credit card. However the credit card has given me short of the amount at 3700.

    What would be best to do get another 0% credit card for the remainder of the amount, wary this may damage my credit score?

    If I don't pay off the figure in full and pay off the 3700 I will just get a shorter remainder period and still be paying the loan amount of 150 a month. What would be my best option?

    Thanks
    • zx81
    • By zx81 27th Jul 16, 11:28 AM
    • 16,866 Posts
    • 17,886 Thanks
    zx81
    If you can get another 0% card, then do that.
    • R_Ling
    • By R_Ling 11th Oct 16, 2:06 PM
    • 1 Posts
    • 0 Thanks
    R_Ling
    Money transfer - can my partner do it for me?
    Hi - was just after some advice.
    I have been declined whilst applying for a money transfer credit card. I was wondering if my partner could apply for one, transfer the cash to me and I pay her back over the duration of the 0%. Is there anything wrong with that?
    • zx81
    • By zx81 11th Oct 16, 2:17 PM
    • 16,866 Posts
    • 17,886 Thanks
    zx81
    Only for your partner if you change your mind about paying her back.
    • Bossworld
    • By Bossworld 11th Oct 16, 9:39 PM
    • 231 Posts
    • 148 Thanks
    Bossworld
    Virgin Money 32 month money transfer card
    Just taken this out for approx 6k, over 32 months.

    I toggled the option for them to set up a direct debit for the minimum.

    Now, I was planning on paying back 200 a month, which squares it off by 32 months. However, I could do with a bit of guidance.

    I have a share save type scheme that will pay a minimum of 5k in less than 2 years time.

    I reckon I can treat this Virgin Money card as almost an advance on that share save money, and in doing so, only pay back around 60 a month and pay the complete balance once the sharesave money comes back in?

    If that's going to work, I see from another site that the initial fee on the card (1.69% is added onto the balance). Will the minimum payment DD take this into account, or should I pay this 1.69% off straight away separately?

    many thanks
    • YorkshireBoy
    • By YorkshireBoy 11th Oct 16, 10:11 PM
    • 30,152 Posts
    • 18,004 Thanks
    YorkshireBoy
    If that's going to work, I see from another site that the initial fee on the card (1.69% is added onto the balance). Will the minimum payment DD take this into account, or should I pay this 1.69% off straight away separately?
    Originally posted by Bossworld
    Yes it will.

    A word of warning...be sure to check your first statement to ensure it states the payment will be collected by DD. If it doesn't, pay by other means and check the second statement for the same message. Missing a payment will mean you lose the 0% rate and also waste over 100 in fees!
    • Skibanger
    • By Skibanger 12th Dec 16, 4:19 PM
    • 3 Posts
    • 0 Thanks
    Skibanger
    Does anyone know if I use my offer on a nuba card for 40 months 0%.... then move that money to a balance transfer card straight away... Does the offer still stand on the nuba card to repeat this??
    • Skibanger
    • By Skibanger 12th Dec 16, 4:46 PM
    • 3 Posts
    • 0 Thanks
    Skibanger
    Does anyone know if I use my offer on a nuba card for 40 months 0%.... then move that money to a balance transfer card straight away... Does the offer still stand on the nuba card to repeat this??
    • MallyGirl
    • By MallyGirl 12th Dec 16, 5:02 PM
    • 2,688 Posts
    • 7,692 Thanks
    MallyGirl
    you can make multiple transfers within the window offered in the T&Cs - usually applies to first 60 or 90 days
    • Skibanger
    • By Skibanger 12th Dec 16, 5:07 PM
    • 3 Posts
    • 0 Thanks
    Skibanger
    Does anyone know if I use my offer on a nuba card for 40 months 0%.... then move that money to a balance transfer card straight away... Does the offer still stand on the nuba card to repeat this??
    • campion94
    • By campion94 11th Jan 17, 8:59 AM
    • 2 Posts
    • 0 Thanks
    campion94
    Hi, I am a newbie


    I wanted to ask for people's thoughts...
    I over pay on my dear mum's mortgage, so between us we pay about 400 per month, Mum's mortagae is now down to 14,500 with 5 years remaining


    I was thinking should I take advanatage of a super balance trasnfer which I understand to be where I can have money transfered into my account and pay of as much as I can on mums mortage, I say as much as I can as I know they may not give me the full 14,500 straight off


    then I would get only 3 years


    but lets says we pay of 9k I could then balance transfer a much smaller amount in 3 years time and accepy for the balance transfer fee I wouldn't be paying interest


    I think that is what I am thinking


    Thoughts? Anyone?


    Thank you in advance
    • MallyGirl
    • By MallyGirl 11th Jan 17, 11:03 AM
    • 2,688 Posts
    • 7,692 Thanks
    MallyGirl
    is the interest rate on your Mum's mortgage much higher than the fee for the money transfer (MT)?
    Will you be able to pay off the 9k (your guess) before the end of the 0% deal - many MT deals are shorter than balance transfer deals

    if yes then it would be a reasonable thing to do.
    • campion94
    • By campion94 11th Jan 17, 8:28 PM
    • 2 Posts
    • 0 Thanks
    campion94
    Hi Mallygirl
    ThanQ for responding
    The mortgage rate is 2.25% variable base rate

    And yes we'd pay about 9k

    ThanQ I will give it a couple nights sleep and probably make an application, see how much I can get for how long
    • Superscrooge
    • By Superscrooge 12th Jan 17, 1:59 AM
    • 1,081 Posts
    • 775 Thanks
    Superscrooge
    Make sure you can definitely pay off the CC before the end of the 0% deal.

    There are many posts on the forum from those that assumed they would be able to roll over their debts onto another 0% deal and got caught out.
    • mgeraghty
    • By mgeraghty 13th Aug 17, 4:51 PM
    • 1 Posts
    • 0 Thanks
    mgeraghty
    Hi All, This is my first post, trying to get used to this site and understanding how it works, so apologies if this is a repeat question, or if it doesn't send properly.

    So I need to clear a 4.5k debt.
    Really keen to use the money transfer cards, seems like a good option that my current bank has to offer (hallifax, 9.9% APR).
    I have been 90% approved for a Virgin card.

    My question is, how do I know how much of a credit limit I will get, or will that just depend on when I go through with the application for the card?

    Many Thanks in Advance
    • Nebulous2
    • By Nebulous2 13th Aug 17, 7:02 PM
    • 1,871 Posts
    • 1,126 Thanks
    Nebulous2
    Hi All, This is my first post, trying to get used to this site and understanding how it works, so apologies if this is a repeat question, or if it doesn't send properly.

    So I need to clear a 4.5k debt.
    Really keen to use the money transfer cards, seems like a good option that my current bank has to offer (hallifax, 9.9% APR).
    I have been 90% approved for a Virgin card.

    My question is, how do I know how much of a credit limit I will get, or will that just depend on when I go through with the application for the card?

    Many Thanks in Advance
    Originally posted by mgeraghty
    It depends on how the lender rates you based on the information you provide and the history they get from the CRA. I found Virgin to be generous with limits, as were MBNA.
    • grizzler39
    • By grizzler39 5th Mar 18, 3:31 PM
    • 7 Posts
    • 0 Thanks
    grizzler39
    Hi everyone.
    I am looking for the best way to buy a motorcycle.
    I need to raise 1500 before this Friday (9/3/2018) to buy it.
    i have a motor cycle already worth more than the one i am trying to buy and i have a buyer for it but he needs time to sell his (never thought i would be in a "chain" for a motorbike).
    I'm thinking of applying for a credit card that will allow me to transfer 1500 to my bank account immediately and to pay it off in full when i sell my bike.
    So, is this a feasible idea?
    If so who would offer a card that i could do this on?
    or should i look at a loan instead and just pay it off when i get the money off my bike?
    I would appreciate any advice on this matter.
    Thanks in advance.
    Last edited by grizzler39; 05-03-2018 at 3:59 PM.
    • zx81
    • By zx81 5th Mar 18, 3:33 PM
    • 16,866 Posts
    • 17,886 Thanks
    zx81
    It's possible, with associated fees. However, you won't get a card by Friday.

    You might get a loan in that timeframe.
    • Woodsy
    • By Woodsy 15th May 18, 11:14 AM
    • 57 Posts
    • 27 Thanks
    Woodsy
    2nd money transfer card while already got one
    Hi,

    I bought a car about a year ago funding about 4k on a money transfer card for 32 months. Been paying off the right amount every month no problems but due to an increase in mileage am now looking to buy another car.

    I've got about 2600 remaining on the card but need 5k again to buy another car (with another 32 month offer)
    The plan was to sell my car and pay off the current card, close the account and then apply for another card as soon as possible with a different credit card company.

    Is this the best way to do this? Is it best to leave the first card open with no balance or close it down before I apply for another one. Or leave the first one open with the remaining balance while applying for the second card?

    I'm unsure what scenario would increase or reduce my chances of getting approved for a second card. I have a v good credit score if that counts for anything so don't think that would hamper anything.

    Any help or advice appreciated. Many thanks.
    What's money? A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,812Posts Today

7,491Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin