Super Balance Transfers discussion area

Hi Money Savers,

I have been a C C tart for the last 4 years & have almost exhasted all of the cards. Went from £12k in 2005 to a balance now of 4.5k :-)

The problems is, I have had a MBNA & Egg card and cancelled them both in 2006. Ive checked my credit history & its in pretty good condition, but the closed accounts still show on my record.

My lastest BT card (Abbey) runs out on 1st Sept & I applied for a Halifax BT card 3 wks ago & was unsucessful, I was wondering if its because Ive been tarting too long & they have seen a trend for 0% cards.

I would like to apply for a super BT card, but do you think they will still hold my records from 2005?

Thanks :-)

Princess_Cutie_Pie wrote: »

Hi
I'm new to all this so hello guys.
I'd liked to clear a £2000 agreed overdraft with Natwest by using the Virign card as outlined on this site.
My only concern is how can I work out what the monthly repayments would be on the card compared to the charges/interest I am currently paying each month to Natwest?
Many Thanks

You would pay 0% interest for the 16 months, therefore your payments to virgin for this period could be just their minimum allowed, which would be £25 per month. Remember this goes towards paying off the balance and is not an interest charge. Meanwhile you'll have paid off the Natwest overdraft and avoid those charges/interest.

You have to remember to pay off whatever's left of the balance on the virgin card i.e. what you've transferred minus the monthly payments you've made, before the 16 months expires or they will start charging interest. Alternatively as martin suggests you could find another 0% card to switch the debt to at that time as a last resort.

I've just applied and been accepted for the Virgin 0% for 16 months credit card, it was a very simple and quick process - all done online, so you don't need any forms to sign.

The only problem is, It doesn't tell you the offered credit limit - we only got £2500 which isn't enough for us, but it's better than nothing I guess! We are planning to do a Money Transfer to our bank account. (Any tips on how to ask for this?)

We need about £3500 for building work and we were looking at 1 year loan, but the interest rate for short term loans is ridiculous.

The £2500 credit limit will certainly help, we don't even have a date for the building work being started, so we should manage to save up £1500 before payment is due!

For those that have gone through the Money Transfer process - did you need to phone Virgin? - what do you say? Do you ask for a Money Transfer to your current account? If they ask what it's for, do I say it's to pay off an overdraft even if it isn't true, or is that fraudulent? Thanks!

I have an Egg Money card which I have been using as a Mule for a few years now. I did a SBT to Egg Money on Thurs of last week - phoned this morning to move the money over to my stooze account and have been told that the T&Cs of Egg Money have changed some 3-4 months ago prohibiting positive balances. Has anybody else come across this ?

Bit baffled now - cant see anything on the T&Cs to say that is has changed - but I am now left with 8K floating in the ether -neither Egg Money or the original CC know where it is !

If Egg Money can no longer be used for an SBT - what other Mule cards exist please ? If this is truly the case then Martins article could do with an update