Super Balance Transfers discussion area

Former_MSE_Dan
Former_MSE_Dan Posts: 1,593
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edited 10 June 2010 at 2:45PM in Loans



This thread is for discussing the
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  • i have approximately £5800 on a lloyds account on 0.45% monthly interest would it still be worth me switching this to 0% for 16 months. i was hoping to have it paid off in that time anyway
  • I know it says on the front page if your an existing MBNA Customer you won't be able to apply for one of the Super Balance Transfer cards but I got a letter and some cheques from MBNA yesterday teling me I could use the facility till the March so if your an existing Platinum card holder it looks like they're rolling it out for you too.

    Chris.
  • The_Laddie wrote: »
    I know it says on the front page if your an existing MBNA Customer you won't be able to apply for one of the Super Balance Transfer cards but I got a letter and some cheques from MBNA yesterday teling me I could use the facility till the March so if your an existing Platinum card holder it looks like they're rolling it out for you too.

    Chris.

    Can anyone recommend a good 0% Super Balance Transfer card?
    |Credit Card Debt Free|I'll bring you flowers in the pouring rain|
    :money:
  • Hi The_Laddie,

    Obviosuly I can't see the cheques, but just treble check that they can be used for 0% balance transfers - often card companies can be sneaky and charge them at the huge cash advance rate.

    Hopefully not in your case, but felt like i should mention it :)

    Dan
    Former MSE team member
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  • Hello.

    New to this site, first post here!.

    I'm just trying to understand this concept.

    Lets say i owe £1,500 on a Barclay Card. Can i transfere this balance to the Virgin Card, then get them to pay £1,500 cash debt into my account to use as i wish?

    I'm a little confused, is that correct? Or would that mean my new debt would be £3000?

    Cheers,
    Adam.
  • davemorton
    davemorton Posts: 29,066
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    adam69 wrote: »
    Hello.

    New to this site, first post here!.

    I'm just trying to understand this concept.

    Lets say i owe £1,500 on a Barclay Card. Can i transfere this balance to the Virgin Card, then get them to pay £1,500 cash debt into my account to use as i wish?

    I'm a little confused, is that correct? Or would that mean my new debt would be £3000?

    Cheers,
    Adam.

    If you got a virgin card, they will pay money into your current account to "clear your overdraft"... So that would be a way to get a 0% short term loan.
    “Quis custodiet ipsos custodes?”
    Juvenal, The Sixteen Satires
  • Clear the overdraft? Do you mean the money i currently owe on the card?
  • New to this site but been lurking for a while and hopefully this may help those looking to do the Super Balance Transfer and were in a similar position as me.

    I already had a two MBNA's credit cards and tried to be cheeky and applied for a third but naturally got refused.

    However on one of them I had no outstanding balance and hadn't used it for over a year, so took the chance to see if they had anything on offer with regards to cash/balance transfers, which they did.

    I got 0% for ten months and have now cleared my overdraft which was costing over £40 per month. Only drawback was the 5% charge which is a bit higher than standard 3%. It is still worth it overall though.
  • New to this site but been lurking for a while and hopefully this may help those looking to do the Super Balance Transfer and were in a similar position as me.

    I already had a two MBNA's credit cards and tried to be cheeky and applied for a third but naturally got refused.

    However on one of them I had no outstanding balance and hadn't used it for over a year, so took the chance to see if they had anything on offer with regards to cash/balance transfers, which they did.

    I got 0% for ten months and have now cleared my overdraft which was costing over £40 per month. Only drawback was the 5% charge which is a bit higher than standard 3%. It is still worth it overall though.
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