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    • osborne
    • By osborne 17th Apr 18, 2:06 PM
    • 1 Posts
    • 0 Thanks
    osborne
    Credit Card Advice
    Hi

    I am about to make a large purchase of aprox £2,000 and have no credit card at the moment, I have looked at the options and it appears that the balance transfer deals are the best. Would it be the best option for me to get a credit card to make the purchase and then get a balance transfer deal or get a money transfer card (with higher initial fees) or a spending card?

    Also, I'm not clear from the information I have seen if a 0% spending card is just that and you are able to spend on it for anything within the 0% period with no charges at all (assuming you pay off the minimum monthly amount) or if there are fees/charges attached to these cards?

    Thanks
    • zx81
    • By zx81 17th Apr 18, 2:09 PM
    • 20,627 Posts
    • 22,061 Thanks
    zx81
    A purchases card would make more sense and be cheaper, as they have no fees.
    • joecola
    • By joecola 30th Apr 18, 1:59 PM
    • 1 Posts
    • 0 Thanks
    joecola
    Balance transfer from AA credit card
    my 0% balance AA credit card is coming to the end and I have just tried to transfer to a HSBC credit card, but it was rejected.
    I have seen online people having the same issues. Does anyone know what credit card company/bank would accept the balance transfer (hopefully online so I don't have to go into the bank itself).
    Thanks

    Joe
    • CCS1234
    • By CCS1234 1st May 18, 4:10 PM
    • 1 Posts
    • 0 Thanks
    CCS1234
    Capital One Balance Transfer
    Hi,

    I have a capital one credit card which I got about 2 years ago, to help improve my credit rating.
    I am now in the process of paying it off and it is a small amount, however every month when I go to pay a chunk off at least 1/3 is put back on in interest.So as much as i'm paying off, it's never as much as I think.
    I've never missed a payment, and I always pay way over the minimum payment amount, but sometimes just not the full balance as i'm unable to.
    I would like to try and transfer the balance to a 0% but when I called up before I believe they told me I was unable to transfer the balance to another card. Is anyone able to advise on this? or have had the same issue?
    Thanks
    • Nojagsjoan
    • By Nojagsjoan 1st May 18, 4:12 PM
    • 1 Posts
    • 0 Thanks
    Nojagsjoan
    Not happy!!
    Hi there!
    I used a favourable balance transfer offer from Barclaycard to create a credit balance on my Tesco credit card in readiness for car purchase. This transaction did not happen so I requested that the credit balance was transferred into my current account. This action was confirmed to me, however the following day Tesco payments dept contacted me to say that the money had to be returned to Barclaycard. I was not happy and told them that I wanted the fee charged by Barclaycard, also compensation for inconvenience be credited to my current account in this instance. Five telephone calls later and this matter has not been resolved to my satisfaction.
    Views and advice please!!
    • zx81
    • By zx81 1st May 18, 4:17 PM
    • 20,627 Posts
    • 22,061 Thanks
    zx81
    Don't try to put your card into a positive balance as it breaches the terms.

    Hopefully all you have lost is the fee and they won't close your card.
    • jonesMUFCforever
    • By jonesMUFCforever 1st May 18, 4:32 PM
    • 25,563 Posts
    • 12,780 Thanks
    jonesMUFCforever
    Hi there!
    I used a favourable balance transfer offer from Barclaycard to create a credit balance on my Tesco credit card in readiness for car purchase. This transaction did not happen so I requested that the credit balance was transferred into my current account. This action was confirmed to me, however the following day Tesco payments dept contacted me to say that the money had to be returned to Barclaycard. I was not happy and told them that I wanted the fee charged by Barclaycard, also compensation for inconvenience be credited to my current account in this instance. Five telephone calls later and this matter has not been resolved to my satisfaction.
    Views and advice please!!
    Originally posted by Nojagsjoan
    Just for one moment think about this transaction from Tesco's point of view---------money comes in to put account in credit---------then you ask for it to be put into a different account ------it could (not saying it is) smack of money laundering.
    What goes around - comes around
    give lots and you will always receive lots
    • kainem10
    • By kainem10 2nd May 18, 10:56 AM
    • 1 Posts
    • 0 Thanks
    kainem10
    Balance transfer card or another lon to pay off current high APR rate loan?
    I have a current car loan with £10,000 left to pay, at a 7% interest rate. Am i best taking another loan with a littler interest rate (loan elligablity calc suggests i can) or should i use a balance transfer credit card with 0% for up to 30 months? or have i misunderstood the consept of a balance transfer card?
    • jonesMUFCforever
    • By jonesMUFCforever 3rd May 18, 4:06 PM
    • 25,563 Posts
    • 12,780 Thanks
    jonesMUFCforever
    I have a current car loan with £10,000 left to pay, at a 7% interest rate. Am i best taking another loan with a littler interest rate (loan elligablity calc suggests i can) or should i use a balance transfer credit card with 0% for up to 30 months? or have i misunderstood the consept of a balance transfer card?
    Originally posted by kainem10
    Is there an early settlement fee on the loan?
    Unless your loan provider accepts credit cards (most don't) then a balance transfer card is of no use to you.
    You will need a money transfer card.

    Do you think you will get a card with a high enough limit and if you do get a card bear in mind the fee for doing the money transfer.
    You could be no better off.
    What goes around - comes around
    give lots and you will always receive lots
    • Mairi343
    • By Mairi343 11th May 18, 2:48 PM
    • 1 Posts
    • 0 Thanks
    Mairi343
    Bit confused help needed
    Hi so I have about £4500 on my current credit card but Iím not getting anywhere paying it off wanted to look at getting a 0% interest 0 fee card (not 100% necessary) but when Iíve applied for one of the options theyíve given me on here for example Barclays it says thereís a credit limit of £1200 on the new card does that mean I can only transfer 1200 off my current credit card or is that on new purchases? Hope that makes sense but new to all this stuff so any help would be great
    • zx81
    • By zx81 11th May 18, 3:29 PM
    • 20,627 Posts
    • 22,061 Thanks
    zx81
    That's the representative limit. The one you get may be higher or lower.
    • mgladman123
    • By mgladman123 24th Sep 18, 12:25 PM
    • 1 Posts
    • 0 Thanks
    mgladman123
    Can I transfer?
    Hello all,

    Brand new member with £1600 cc debt with NBS and looking to clear it ASAP. Can I balance transfer the debt balance and continue making payments that are not the whole ammount?

    Also, could I transfer if I had a stop order on the acc?

    Regards,

    Matt
    • zx81
    • By zx81 24th Sep 18, 12:29 PM
    • 20,627 Posts
    • 22,061 Thanks
    zx81
    You will need to make at least minimum payments on any account.

    What are you classifying as a 'stop order'? It's not a term we use in the UK.

    Do you mean your card is blocked? If so, that doesn't impact payments to the account.
    • Dinahmyte
    • By Dinahmyte 9th Oct 18, 10:33 PM
    • 17 Posts
    • 5 Thanks
    Dinahmyte
    Balance transfers
    Do any cards have a penalty for paying off the whole amount before the end of the deal?
    • zx81
    • By zx81 9th Oct 18, 10:39 PM
    • 20,627 Posts
    • 22,061 Thanks
    zx81
    No. .
    • TAYCN
    • By TAYCN 28th Nov 18, 9:29 AM
    • 2 Posts
    • 0 Thanks
    TAYCN
    My interest free is coming to an end in around 4/5 Months with my Nationwide Credit Card. I have £969 still left on the card to pay off, I have never missed a payment and my credit score has been built up very well.


    My question is, I always pay way over the minimum payment (£25 min but actually pay £175 every month) so I am planning to reduce the credit that is still left to pay on the card before I transfer, so when would be the best to balance transfer?


    Would it be to pay off as much as I can now and then transfer? I was looking at reducing this amount that I actually pay to near/around £100 for the next few months due to a trip to Japan coming up in March 2019 which I need to put away money for. Or would it be to just do the balance transfer asap and reduce my payments slightly as planned?


    Any help and advice would be greatly appreciated!
    • zx81
    • By zx81 28th Nov 18, 9:31 AM
    • 20,627 Posts
    • 22,061 Thanks
    zx81
    Apply at least a couple of months before your current deal expires.

    There is no need to overpay while the debt is at 0%, but be prepared to throw as much as you can at it in case you cannot get another BT offer.
    • TAYCN
    • By TAYCN 28th Nov 18, 9:38 AM
    • 2 Posts
    • 0 Thanks
    TAYCN
    Thanks for replying so quick!


    So I should be prepared to start applying around 2/3 months before? I know, I just like to pay off as much as I can while I can! I will definitely be prepared to pay as much as I can on the card while I will be reducing my payments.


    This will be my first Balance Transfer to a card that will be in my name. (I've BT before but that was to my partners card to spread the cost of our trip)
    • eacesar
    • By eacesar 28th Nov 18, 10:06 AM
    • 28 Posts
    • 31 Thanks
    eacesar
    As zx81 mentioned, apply for a new card a couple of months before your current offer expire.

    When you are accepted for a new card with an introductory BT offer, they normally give you 90 days for you to actually complete the BT from other cards.
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