Questions about Balance Transfers

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  • eskimo67
    eskimo67 Posts: 2 Newbie
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    My new barclay cc card 0% new purchases for a year and new rbs cc card both allowed me to pay off part of my more expensive vanquis card debt so why pay a bt fee when its free to pay it as new purchases?
  • dogmatix
    dogmatix Posts: 13 Forumite
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    sorry if this has been asked before If I have 5k on a credit card at 17% and am offered a 0% balance transfer. Can I transfer 5k to my bank account at 0% then transfer it back to the credit card thus swapping the previous 17% rate for a 0% ? I realise there will be a fee but I would still be saving money and clearing some of the debt quicker even if for just 10 months or so ?
  • ehaddon
    ehaddon Posts: 1 Newbie
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    Hi I have a very small outstanding mortgage of £3000.00 left after my endowments paid off the bulk, due to endowment shortfall.
    The amount is too low for bank to give me a new mortgage so am wondering if you can used credit card BT to pay the loan off or is it only for paying of another credit card balance. If so I can use the credit card I have now to pay it then take a new 0% card to pay that off but it would be much simpler to pay the loan straight off with the new card if that's possible.
  • Flyfifer
    Flyfifer Posts: 1 Newbie
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    Hi, I want to BT my partners and my Abbey CC's to Barclaycard 0% but am unsure what Abbey will do with the Abbey CC accounts. Do they close the account, or reduce the credit limit (which I would want to do). I was hoping to keep one of the cards (not for regular use), as a fall-back in case of any emergency large purchases or payments.
  • sparky21
    sparky21 Posts: 1 Newbie
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    I currently have a tesco cc with a balance of 3300.00 thats coming to the end of the 0% deal. I want to transfer but as i am a homemaker would i be accepted anywhere? Thanks
  • GAZWOLD_2
    GAZWOLD_2 Posts: 1 Newbie
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    Hi.. I am a single mum and got no job. I am unable to transfer my existing £4500 dept to a o% card as i cant get a card from anywhere. I am really struggling to pay the monthly amount, all i am paying is the interest. Please help
  • miss_miggins
    miss_miggins Posts: 181 Forumite
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    Hi, I have been stoozing for 3 years now and have been juggling my debts between 5 cards , cutting my debt by 70% :).
    I now have 2 cards that I have balances on, but the other cards with zero balance seem to be putting up my credit . Should I be worried? Only yesterday MBNA sent me a letter putting up my available credit from £3000 to £6000. I don't use this card, but why are they doing this, and will it affect my credit rating?
  • miss_miggins
    miss_miggins Posts: 181 Forumite
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    ehaddon wrote: »
    Hi I have a very small outstanding mortgage of £3000.00 left after my endowments paid off the bulk, due to endowment shortfall.
    The amount is too low for bank to give me a new mortgage so am wondering if you can used credit card BT to pay the loan off or is it only for paying of another credit card balance. If so I can use the credit card I have now to pay it then take a new 0% card to pay that off but it would be much simpler to pay the loan straight off with the new card if that's possible.


    I think strictly speaking these transfers are to pay off other cards, but you should have no problem having the cash transferred to a bank account then you can pay off your mortgage.

    Unless someone can correct me.:)
  • chucks1210
    chucks1210 Posts: 1 Newbie
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    Hi,
    I am new to this so apologies if I have put this message in the wrong place. I currently have an overdraft of £2500, each month i am paying £18 account fee and up to £30 in account charges. I would prefer to put this on to a credit card and pay with 0% balance transfer. Do you know if it is possible to transfer from bank account to credit card? and which would be the best card option to apply for?
    Thanks.
  • Glasseye
    Glasseye Posts: 38 Forumite
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    Hello;

    I'm looking at balance tranfer cards for the first time and while applying for an MBNA card but one of the first questions is


    'Will you be transfering debt from another card or from another bank account?'


    I have a 750 debt on a student credit card I'd like to pay off but I'm also looking to purchase a piece of kit for work which is a grand.

    Am I right in thinking I should transfer the £2,000 MBNA money to my current account and then pay off the credit card from my current account?

    Thanks!
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