these always seem good, but they always refuse to give me one, all I wanna do is withdrawn the full amount and stick it on a roulette wheel (probably red) then when I win I'll pay them back straight away, what's their problem? it's not like im not good for it, my bank statements clearly show my JSA every 2 weeks so they know I have income geeezzz

and what is the "low" balance transfer fee? I'm a seasoned stoozer so only use 0 fee and 0% cards.

and what is the "low" balance transfer fee? I'm a seasoned stoozer so only use 0 fee and 0% cards.

These are getting better and better. No need for loans anymore as long as you borrow under 10k!

You only get the 40 months free balance transfer deal if you qualify for one of their two lower rates, otherwise it is only 20 months and a potential rate of 27.9% beyond that. After initial 90 days any further transfers incur usual 3% transfer fee.

Does anyone know how to ascertain the level of credit you would be allowed prior to applying?

For example, my sister has around 7/8 grand in card debt at the minute and it would be ideal for her to use this to consolidate and pay off interest free for that time, but if it's only going to be say a 4k limit then it wouldn't be worth it?

I know MSE can give you the likelihood of being accepting, but that's not what i'm asking for clarity.

Any advice appreciated.

check Martin Lewis's moneysaver site .... has useful tools for all credit related stuff.

http://www.moneysavingexpert.com

Personally don't understand why anyone would pay a 1.69% fee when you can get a zero fee for 2 months less

seems crazy IMHO

Naturally not a bad idea, but shes in a good position with her credit score and I don't want to suggest something which would impact that!


Thats fair enough mate, but was hoping to help her consolidate things into one, make it easier and more manageable.

these always seem good, but they always refuse to give me one, all I wanna do is withdrawn the full amount and stick it on a roulette wheel (probably red) then when I win I'll pay them back straight away, what's their problem? it's not like im not good for it, my bank statements clearly show my JSA every 2 weeks so they know I have income geeezzz

I feel like I might be in the same credit score range as you? When you say crappy, how crappy is it really? From Noddle to ClearScore and MSE etc. I have poor to fair credit at the moment. I am thinking of applying too.

Yeah I get the same results as I have not lived in the UK for long, moving multiple times in the past year. I 2 card atm, one with my bank and this new one with Lloyds, paid in full every month

Even better if they also give you cashback via quidco or Topcashback too.

Bah, just got approved and sent off for the 29-month Sainsbury's one. Oh well.

Could someone explain this to me in a simple way: If I spend 1000 pound, how long would I have to pay it back - 40 months? and what interest would occur?

Nothing like doing an honest day's balance transfer to put money on the table.

can anyone advise on the 0 fee and 0 balance transfer cards. I can't find any

Eligibility checker said no, but I knew that was nonsense so applied anyway. Asked for £7K, got offered £7K but only 20 months 0%. Pointless then.

Anyone know of any good ways of getting this into a mortgage account. I used to stooze with an egg card to transfer money into an account but that's not available any more. Revolut no good either as tried to use that for a Sainsbury's transfer and didn't work.

brace yourselves, the 'I don't use credit cards, if you can't afford it, don't buy it' brigade are coming!

New customers only I presume?

I got a "good" credit rating according to noddle.
I asked for a useful amount of £7900.
They offered me £7000 and only £6650 towards a BT....with a 3% charge!
But I did get the 0% 40 month deal.

forget the quidco it'll track then it will cancel

Yeah, this makes sense, I was just hoping there was some way of knowing that she could get the full 8k onto one card for 40 months and one payment to sort it all out. Thus reducing the impact on her score for applying for multiple cards. Still, may be beneficial in the long run.


This is a good insight, I knew MSE gave you an indication of what you would be accepted for (without leaving a footprint on your credit file) but didn't think of it that way. But I still suppose that while she may get the advertised rate there is still no guarantee of getting enough available credit to consolidate the others is there. Rock and a hard place.


Another Question; Does the application process for these things ask if you will be transferring balances over? Surely if they do, they would know what level of credit you require and would act accordingly?

The only card I have asked me what I thought was an acceptable level of credit, and shock surprise horror they gave me the exact amount I suggested :smile: but I don't think it mentioned "will you be transferring a balance across" or anything.

I got the 0% for 40 months but only a small limit - bit pointless.

I guess they might ask how much you want to transfer but I've applied for 2 cards and they've never asked. I think that's because they set your credit limit in the first place on the card. Normally there's time limit to when you can transfer balances onto the card and get the promotional 0% offer on them. That's just my experience. I've always used MSE to gage just how likely I am to get the advertised offers. The sainsbury offer is a bit finicky apparently. Lots of people with high credit scores get declined but it seemed to work for me.


Yeah I get that it would be convenient to shift it all onto one card and then just set up a direct debit to that one card every month, dunno how much more it would impact her credit tbh. I'm not even sure myself on how much it would affected by the current 7/8k debt she has now.

Thanks mate, i'll get her to give the MSE thing a go and if it's likely I might just get her to go for it. She has a good score as never lets anything go unpaid, not too far off mine to be honest (and I only took a credit card recently as it was a "negative" on my file that I didn't have one! haha)

This is the concern for me, such an attractive rate/timescale, but will people be able to actually take advantage of it for significant benefit.

Brilliant one. Thanks.

keep seeing people say this is a good card if you have debt on another card but i have a loan with a bank and im paying it back over 30mouths at 3.9% which i thought was good. would it be possible to take this deal and somehow pay my loan off and pay the lower rate using the deal?

peak for me

Not strictly true... There are '0% Money Transfer Credit Cards' which would give you a cash amount to pay off your loan and you can then pay that off gradually from the card. There is, however, a small fee for doing this - the lowest starting at around 2% - which is added to your total balance. See here for more details: http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs

I gave 8 examples 3 posts before yours... Admittedly they're not quite 3 years, but there very much IS something like that.

That's not this card though, so just making sure he didn't apply for this one and cost himself a bomb.

FEEDBACK TO ALL:

Further to my previous posts, MSE showed that their was a higher likelihood of her getting the Virgin Money 40 months interest free card, so she applied for it. The balance they set, despite asking if she had any balances to transfer, was £6,500 just 2 grand short of the full amount she needed.

They have said she can write in to request an uplift, which she has done, and if successful she will be able to transfer the remaining balance and bee 100% consolidated with no interest.

At present, she has basically cut her interest by 76% which is absolutely brilliant.

It's thanks to this site and the chat from you guys that this was possible (even though it was a different card!), so thanks to the OP and all those who contributed!

I do not dispute that there are 0% BT - 0% fee cards, but the 3yrs and the concept of free money, its simply not what it sounds like.
I say so, because I know for a fact that those headline quotes are to LURE customers, then offer them something different, which they will not have paid-off by the time the MUCH shortened interest-free period is over, they role back to EXORBITANT rates like > 19%APR, which effectively cost you more than the carrot that you had been offered initially.

i) 95% of people who apply WILL NOT GET the advertised deal (esp the interest free period, like the 28months) they get offered something like 9 months or less.
ii) Majority get offered a very small limit (like £1000) which is not very useful.
iii) Majority of people who REALLY need these cards DO NOT BENEFIT at the end of it all, but the rich who can afford to (a) have awesome credit rating (b) pay off lump-sums in one go, after a few months and (c) probably don't need all these deals tbh, are the ones that usually benefit from all this

I applied and got to 'your credit limit would be xxxx' part of the application. I then cancelled, as it was nowhere near what is needed. Will this part application show on my credit report search?