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    • PETER83
    • By PETER83 8th Jan 18, 12:21 PM
    • 1 Posts
    • 0 Thanks
    Balance transfer to bank account
    Hi Guys,
    I need advice with my debt. I need to apply for credit card. Can you tell me which option could be best in my situation. Main thing is that I have 1000 overdraft on my bank account and I still need to pay back to one solicitor 2000 till June 2018. So question is can I get 0% balance transfer card to shift money to my and solicitors bank account? Or best would be money transfer card. I seen only one option for money transfer card on moneysavingexpert
    MBNA UP TO 37 MONTHS 0%, 3.45% FEE (23.9% INTEREST AFTER)

    Do you know any good deals to solve my problem?
    • zx81
    • By zx81 8th Jan 18, 12:24 PM
    • 16,813 Posts
    • 17,818 Thanks
    To get money into your bank account, you need a money transfer option.

    Alternatively, you get a purchases card, put your regular shopping on that and free up cash to use elsewhere.

    However, if you've heavily in your OD, you may not be able to get any decent offer.

    Try the eligibility checker but you may need to do this the old fashioned way, and cut costs to free up cash.
    • Raxiel
    • By Raxiel 9th Jan 18, 12:06 AM
    • 655 Posts
    • 357 Thanks
    Hi, I currently have a Natwest Reward Credit Card which I pay off in full every month.
    Unsuprisingly, December's bill (due mid January) is a bit bigger than usual at around 2k. January's bill will also be larger than usual due to a couple of one off purchases last Friday and Sunday that are yet to show up (around 2.5k).
    I can afford to clear both, but I figured it would be better to apply for a card that offers 0% on balance transfers and transfer it over, then pay it off over a couple of years rather than make a withdrawal from my savings. (Both months idealy, but definitely January at least if I can't complete the transfer before December's bill comes due.

    Assuming the application is successful, how soon after the application do they usualy transfer the balance? Does it have to be done at the time of application? Do I have to give an exact figure to transfer, or do they just take the whole balance on the day (or up to the credit limit, whichever is lower)?
    I have a good credit history, is there any way to be sure i'll get a big enough limit on a card I apply for?

    • kevandkeira
    • By kevandkeira 9th Jan 18, 2:19 PM
    • 824 Posts
    • 3,213 Thanks
    Hi, I currently have a capital one cc (2000 limit 600 balance) & a barclaycard (1700 limit 1000 balance), the 0% is due to end on both soon. I have been approved for a 2nd barclaycard, 2500 limit, 0% for 28 months.
    When I applied online they accepted the capital one balance transfer but not the barclaycard one, is it possible to transfer barclays debt to cap1 (once thats cleared), then do a 2nd balance transfer from the cap1 card again? Hope that makes sense!
    Last edited by kevandkeira; 09-01-2018 at 2:22 PM.
    • MallyGirl
    • By MallyGirl 9th Jan 18, 4:06 PM
    • 2,678 Posts
    • 7,680 Thanks
    you can but you will be hit with fees for each transfer.
    • Kentishphotographer
    • By Kentishphotographer 10th Jan 18, 3:55 PM
    • 1 Posts
    • 0 Thanks
    Credit card transfer for those on longterm sickleave/PIP
    I'll try to keep a long story short.
    In March 2016 I fell very ill following a virus with a health condition which has left me virtually housebound and unable to work since. I've been on ESA since October 2016 and lowest rate of PIP for daily care since December 2017. I am really struggling to make ends meet. I have had a credit card since 2014 which due to my health and some other things has a balance of 2, 600. I currently pay it back at the minimum rate of 60/month - 51.28 of which is interest (22.44%). This is crippling me and the balance is just not going down.
    Is there any way I could transfer my balance to a 0% card, or even one with lower interest, for a period to help me try to reduce the balance even a little. I assume there will be more stringent rules for those in receipt of benefit payments as income. Could I also risk ending up on higher interest than my current level after a period on lower interest?
    My income is below 500/month - but I do have an excellent credit rating.

    Thanks for any advice and suggestions
    • jelly_tot
    • By jelly_tot 8th Mar 18, 6:24 PM
    • 1 Posts
    • 0 Thanks
    online or branch?
    Hi there

    Is it better to apply for a balance transfer online or go into a branch? Is that possible?

    I'm wondering because my husband has recently launched his own business, which complicates filling in the online application form. Giving details of his income is not straightforward. Maybe it's easier to talk to someone in branch? Or does that put me at a disadvantage?

    Many thanks
    • zx81
    • By zx81 8th Mar 18, 7:03 PM
    • 16,813 Posts
    • 17,818 Thanks
    It makes no difference to the outcome but will be less painful online.
    • Hitman Hart
    • By Hitman Hart 9th Mar 18, 5:43 PM
    • 5 Posts
    • 0 Thanks
    Hitman Hart
    Will Balance Transfer limit be enough?
    Hi, i'm wanting to transfer a balance of 6000 from barclaycard to MBNA, the MSE eligibility checker says im 100% pre-approved for a 0% transfer for up to 36 months.

    Is there any way to know if the MBNA credit limit will be high enough to cover the transfer amount?

    I don't want to apply and get to the end only to find out i can't transfer the whole amount.

    Many Thanks, HH
    • zx81
    • By zx81 9th Mar 18, 5:47 PM
    • 16,813 Posts
    • 17,818 Thanks
    You'll only know the limit once you are accepted.

    Take whatever they give you and BT what you can. You can always try for an additional card elsewhere.
    • AndyPoll
    • By AndyPoll 11th Mar 18, 4:06 PM
    • 15 Posts
    • 7 Thanks
    Will this work - get a free money transfer

    Hi, I've just got a new card with an 8600 limit. It's got a free BT for 27months.

    I need to transfer 3500 onto it.

    However I plan to ask for a 6000 BT leaving a positive balance on the card I'm transferring from. I will then have the 2500 put into my ISA.

    Therefore this should work like a free money transfer.

    Will the banks allow this or will the BT not go through into a positive balance?

    Any opinions welcome.

    • mlud001
    • By mlud001 12th Mar 18, 12:56 PM
    • 2 Posts
    • 0 Thanks
    Hi. My husband currently has two credit cards (one Barclaycard and one with Tesco) in his name and I am an additional cardholder on both. We are paying interest on both so I am looking to take out a 0% balance transfer card to ease our woes. I have completed an eligibility checker and Barclaycard has come back at 95% whereas all the other providers are at around 50%. My questions are:
    1. Can I, as a secondary cardholder; 1. apply for a Barclaycard; and 2. transfer a balance from the existing Barclaydcard (husband) to a new (my) Barclaycard (I suspect not)?
    2. Some comparison websites allow you to enter the balance that you wish to transfer, is it right to assume that this will be the limit on that card or is the only way to find out to apply?
    3. A lot of the other cards I have done an eligibility check on are around 50%. Is there any negative effect of me applying for several cards if I am rejected for the previous one(s)?
    4. If I transfer the balance from the Barclaycard on to a non-Barclaycard, can I then transfer that balance to a new Barclaycard (if I were to be accepted)? And is there a time limit/penalty for transferring a balance in and then out again in quick succession?
    5. If he were able to clear the Barclaycard balance to nil and close the account is there any restrictions on my husband applying for another Barclaycard soon after?
    6. Will applying/being accepted for a new credit card have any effect on whether I can apply for further credit cards (i.e. if the new card does not have a sufficient limit)?
    • zx81
    • By zx81 12th Mar 18, 1:01 PM
    • 16,813 Posts
    • 17,818 Thanks
    1. No. You can't transfer between cards of the same stable.
    2. Limits will be known only when accepted.
    3. The searches will appear on your files. Multiple searches can make you look desperate for credit.
    4. Yes. You will need to do all transfers within the promo windows.
    5. Don't think so.
    6. The additional limit, and any balance, will be taken into account by subsequent lenders you apply to.
    • mlud001
    • By mlud001 12th Mar 18, 1:15 PM
    • 2 Posts
    • 0 Thanks
    Sorry, quick follow up it worth talking to the current credit card provider to see if they can offer a better/similar deal to a different provider?
    • zx81
    • By zx81 12th Mar 18, 1:19 PM
    • 16,813 Posts
    • 17,818 Thanks
    It's worth a try but don't get your hopes up.

    Lenders are unlikely to want to swap profitable interest bearing balances for ones that incur them costs.
    • Gary_Dexter
    • By Gary_Dexter 12th Mar 18, 2:11 PM
    • 1,143 Posts
    • 635 Thanks
    You will also need to check whether you can transfer the balance from those cards to one in your name.

    Though you are a named card-holder on your husbands cards, the accounts are in his name, and some companies do not allow transfers between accounts in different names
    • Missy Mudpie
    • By Missy Mudpie 27th Mar 18, 10:29 AM
    • 5 Posts
    • 3 Thanks
    Missy Mudpie
    I have a Next credit account (different to a store card I believe) and would like to use a 0% credit card to clear the balance of my Next account. Can I do that? I'm worried that the credit card will class that as a purchase, rather than a balance transfer.
    • zx81
    • By zx81 27th Mar 18, 10:32 AM
    • 16,813 Posts
    • 17,818 Thanks
    I believe Next accept cards as purchases.
    • Missy Mudpie
    • By Missy Mudpie 27th Mar 18, 10:41 AM
    • 5 Posts
    • 3 Thanks
    Missy Mudpie
    yes I can use a credit card to pay Next, but I have read that the 0% balance transfer credit cards are only ok to do balance transfers from another card. Martin says never use them to make a purchase on.
    I am worried that the credit card will see the payment of Next as a purchase, and also charge me interest!

    Are you saying that is what will happen?
    • zx81
    • By zx81 27th Mar 18, 10:42 AM
    • 16,813 Posts
    • 17,818 Thanks
    I'm saying you need a 0% purchases card.
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