Transferring balance from vanquis to cap one . Advice needed.

sam791 wrote: »

I have a vanquis card with a £1000 limit which im struggling to clear. I pay £70 a month . My interest is usually £30 each month. Its ruining my credit score which isnt great already due to a settled default back in 2014.
I have been offered a 0% balance trans with capital 1 for six months. It has a limit of £750.
What would be the best way to do this? If i transfer £750 over to my new card, then i would be 99% to my limit thus ruining my credit score still.

Forget about credit scores and concentrate on clearing the balance.

Capital One seems to allow customers to balance transfer the whole of their remaining credit, but do mention this:

The minimum balance transfer amount is £50. Please leave £100 of available credit after your balance transfer fee has been charged

What's the fee? If I were you I'd balance transfer as much as I could, taking in to account the balance transfer fee (if any) and interest on any balance (if any) I already have on the card.

Some folks here have previously mentioned having problems balance transferring from a Vanquis card.

sam791 wrote: »

It's 3% fee. Can Vanquis stop the transfer ?

Bear the fee in mind when doing a transfer.

There have been a few messages posted here about problems transferring a balance from Vanquis, however most of them were a few years ago.

http://forums.moneysavingexpert.com/showthread.php?t=4608515 from 2013 for example.

A more recent example is http://forums.moneysavingexpert.com/showthread.php?t=5560912.

Suck it and see.