0% Balance Transfer Card Question

StuMcBill · 16 January 2019 at 3:45PM

Hi,

I've got just under £2k on two credit cards, which I am comfortably paying off slightly more than the minimum payment and chipping away at the balance.

To get it paid off a bit earlier, I am thinking about getting a 0% Balance Transfer card (Santander) but I would like to transfer the balance from both of them onto one card.

Can this be done, or can I only transfer the balance from one card?

I plan on cancelling at least one of my current cards once I get the new one so I don't have as much cards on my credit score.

Thanks,
Stewart

[Deleted User] · 16 January 2019 at 3:56PM

You can transfer as many cards as you want in the promotional period.

Ignore your credit score. which is just a made up number. Keep all three cards to build good credit history.

Use both of the spare ones regularly and clear in full each month.

eskbanker · 16 January 2019 at 3:56PM

You can transfer multiple balances onto one card, but only if the credit limit offered is large enough.

StuMcBill · 22 January 2019 at 1:58PM

Well, turns out I was declined for a Santander card, despite me having my mortgage and joint current account with them.

I'm wondering if its just due to the fact its a recent mortgage (not actually made any monthly payments).

phillw · 22 January 2019 at 4:27PM

StuMcBill wrote: »

I'm wondering if its just due to the fact its a recent mortgage (not actually made any monthly payments).

The problem with 0% balance transfer cards is they increase your available credit and you've probably maxed out what they are happy to lend you right now. If there was an automated system where the old card was cancelled when the balance was transferred then they may be happier to do it.

It's a sad fact that 0% cards are aimed at people who don't need them.

jacksearle · 22 January 2019 at 5:32PM

Hi all, I don’t know wether this is the right place to say.

I need help with 0% balance transfer cards. I have currently got £3500 left to pay on a credit card with santander.

Looking into the balance transfer cards but it seems I can only get £1200. Is it the case of getting one or two? I’m currently paying £150 a month but the interest is between £60 to £70.

Any advice would be much appreciated. Thank you

MallyGirl · 22 January 2019 at 5:55PM

is this £1200 what they have actually offered you or just the £1200 that is shown on every lender's info as a representative figure for comparison?

If the former then you could try and apply for another one

It would have been better to start your own thread rather than tag onto the end of someone else's query btw

jacksearle · 22 January 2019 at 6:49PM

Thank you for the reply.

All I have done at the moment is eligibility check because I didn’t want to get rejected if I applied.

I’m new to this so il start a new thread.

0% Balance Transfer Card Question

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