0% balance transfers for 16 months with NatWest card
490°Expired

0% balance transfers for 16 months with NatWest card

43
Found 16th Jul 2010
This seems like a good deal, I did see it on here earlier but seems to have disappeared before I could comment...

43 Comments

The important bit...

2.9% balance transfer fee - (minimum £5), and a Typical 16.9% APR (variable)

Original Poster

cdm22

The important bit...2.9% balance transfer fee - (minimum £5), and a … The important bit...2.9% balance transfer fee - (minimum £5), and a Typical 16.9% APR (variable)

It looks like all balance transfer cards have this fee and it's a damn site better than paying something like 15.9% which is the going rate these days

I was about to post this myself, that's the longest 0%period on the market!!

awesome deal cheers

Also, if you want to make a balance transfer from another RBS company, do it in the application. Do not wait to get the card to make the balance transfer as it wont let you transfer any balances from RBS cards.

Yeah this is a cracking deal. Not needed for me right now but heat added.

What about getting a balance transfer to a current account? Aka a "super balance transfer"? Is it any better than the Virgin Credit Card listed on MSE? I believe borrowing £2500 for 13 months on the Virgin credit card works out at just £100 interest.

@ReflexReact: right, but if you transfer £2500 to this card - even at 2.9% interest - it's only £73 interest. Having said that, your deal also sounds very good.

do you have to be a natwest current account customer for this deal?

alliance and leicester had a credit card with their current account which permitted balance tranfers at 0% for 12 months with no charge. ie. free. not sure if it is still available

very good deal

Ok I dont know much about CC cards, so hoping someone can help...

Ive got a Barclaycard with about a 1000 on which ive been paying of fine each month lately. But now iam gettign my own place ive had to use my CC abit more. I believe I can transfer my CC debt to this new card-is that correct? This is called a 'balance transfer'? Obversely that depends on if I can get the Natwest card.

Thanks all

looks good deal

damn, i just did a balance transfer to virgin @ 0% until April. I'll have paid it off by then but thats not the point :P

says its for platinum card and for income fo £10,000. rules me out on my part timejob!

bovysbabe

says its for platinum card and for income fo £10,000. rules me out on my … says its for platinum card and for income fo £10,000. rules me out on my part timejob!



lie ;-0

Santander credit card is 0% fees for 3 months and 0% on BT for 13 months if you have a current account/ mortgage with the group

I have a car loan on going which I owe about £3k is it poss to pay this all off with another credit card then transfer that new debt as a balance transfer to this on? I currently pay 14% interest.
thanks
R

borgman

I have a car loan on going which I owe about £3k is it poss to pay this … I have a car loan on going which I owe about £3k is it poss to pay this all off with another credit card then transfer that new debt as a balance transfer to this on? I currently pay 14% interest.thanksR



Firstly, you'll have to find out if your particular loan company will let you pay off the loan by credit card, as a lot of companies don't allow this. If they do let you, you'll probably have to pay about 3% to pay via credit card. Plus they'll probably charge you a fee for paying off early.
Then you'll have to pay the 2.9% fee to transfer the balance from your existing card to this one, which would be £87.
However, prior to that you'll have to have applied and been accepted for this card; they could give you a rubbish credit limit less than what you need.

So theoretically, yes, you could well do it, but you'll have to weigh up all the costs and compare it all to what you're currently paying.

Google "plastic loan mse"

if you use a virgin credit card, you could borrow about £3k from the credit card, put into a current account which you could then use to pay off the loan. Of course, the loan may have early repayment charges... if it doesn't, you'll only pay the virgin fee which on 3k would be about £120.

These cards all claim 2.9% interest on balance transfers, but those are not balance transfers into your bank account (super balance transfers). Those come at usually much higher rates (up to 20-30%). Virgin however only charge about 4%, hense why you'd only pay about £120 for 13 months of borrowing.

Bloody good deal that. Will check when my interest free with Egg runs out.

Thanks

How is the transfer, for example from a Barclaycard credit card into the natwest card work. Do you have wait until you get your card?

1Jim0

Ok I dont know much about CC cards, so hoping someone can help...Ive got … Ok I dont know much about CC cards, so hoping someone can help...Ive got a Barclaycard with about a 1000 on which ive been paying of fine each month lately. But now iam gettign my own place ive had to use my CC abit more. I believe I can transfer my CC debt to this new card-is that correct? This is called a 'balance transfer'? Obversely that depends on if I can get the Natwest card.Thanks all



Hi there, you have the general idea correct. What your doing is transfering outstanding debt that you are paying interest on over to another account to pay a lower rate of interest. Obviously most deals are different, although this looks quite a good deal in the current market. Really whats happening is your paying your new card company a fee to take over your debt. With this deal for every £100 you transfer over your paying £2.99 to do so. What I would also say is if your transfering over don't use the card for purchases or anything else until the balance is cleared as usually when you make your monthly payment the amount will come off the BT first meaning you end up paying interest on everything else.

To the guy that was asking when to arrange the BT they usually can be done when applying or within a set amount of time after check the T&Cs. Another way is when your first get the card and you call to activate, simply ask the advisor you speak to.

hope thats of some help

Thanks wulliedufc...so I would be looking at around 30quid to transfer my debt, seems ok to me. Is there anything else I need to bare in mind? Ive been agreed a mortgage recently...it would affect anything to do with that would it?

O.K. I work for said company and its alright for a quick fix but I have gone for the new MBNA card which is 6.9% for life of balance for balance transfers and cash into your bank account ( must be put on the card in first six weeks) small fee as well.Remember to set up minimum direct debit to stop extra charges and things.

1Jim0

Thanks wulliedufc...so I would be looking at around 30quid to transfer my … Thanks wulliedufc...so I would be looking at around 30quid to transfer my debt, seems ok to me. Is there anything else I need to bare in mind? Ive been agreed a mortgage recently...it would affect anything to do with that would it?



to 1Jim0 - it won't affect your mortgage in any way as you are not increasing your debt, simply transferring who the credit card lender is for your existing debt. On the face of it it would be a good move to transfer your existing credit card debt to this new card if you are accepted by Natwest as you will decrease your outgoings - personally I would try to maintain the same payment levels as you are currentlypaying and you will clear your debt faster.

heat added to deal btw! this is a great interest free period for the fee you pay- these deals are usually for 12 months only,so you are getting an extra third "free".

1Jim0

Thanks wulliedufc...so I would be looking at around 30quid to transfer my … Thanks wulliedufc...so I would be looking at around 30quid to transfer my debt, seems ok to me. Is there anything else I need to bare in mind? Ive been agreed a mortgage recently...it would affect anything to do with that would it?


Provided your credit rating is reasonable (and I'd imagine it is if you've got a card and a new mortgage with no missed/late payments on either) then application for this should be a formality which will go through with no problems - and the process will do your credit rating no harm (and may in fact improve it slightly, as you'll have a new company adding to your rating score).

One thing I would strongly advise, though - destroy your old credit card when you get the new one. It's ridiculously easy to end up with two or more credit cards each with thousands of pounds of debt on when you "switch" to another lender. You think you're saving yourself a fortune in the short term, and you end up paying through the nose for years and years after...

Does anyone know whether this NatWest card is underwritten by MBNA?

meerar

alliance and leicester had a credit card with their current account which … alliance and leicester had a credit card with their current account which permitted balance tranfers at 0% for 12 months with no charge. ie. free. not sure if it is still available



NEW A&L / Santander bank account customers can apply for 12-month interest-free-no fee card during on-line application (may be able to get £100 bonus, and another £50 for TCB / Quidco).

EXISTING customers can phone customer services and get card on similar terms (not available online).

AMAZING DEAL with A&L! Why pay to transfer!

No, Nat West is RBS.

RogerN

NEW A&L / Santander bank account customers can apply for 12-month … NEW A&L / Santander bank account customers can apply for 12-month interest-free-no fee card during on-line application (may be able to get £100 bonus, and another £50 for TCB / Quidco). EXISTING customers can phone customer services and get card on similar terms (not available online). AMAZING DEAL with A&L! Why pay to transfer!



Link please, can't see that on the site - only 6 months.

*Edit|* to get that 12 month Credit Card you have to sign up to the current account too, just seen it elsewhere on the site after a lot of searching!

great deal. signed up. now only gonna cost me £150 to pay off my debt. +1

ses6jwg

Santander credit card is 0% fees for 3 months and 0% on BT for 13 months … Santander credit card is 0% fees for 3 months and 0% on BT for 13 months if you have a current account/ mortgage with the group


Can you pls post the direct link as I can only see 6 months on their website. Thanks

Rona7do

Link please, can't see that on the site - only 6 months.*Edit|* to get … Link please, can't see that on the site - only 6 months.*Edit|* to get that 12 month Credit Card you have to sign up to the current account too, just seen it elsewhere on the site after a lot of searching!


Can some on e provide more information on this. I have mortgage with A&L at the moment, can I apply online and still get 100 bonus and go through quidco to get 50 quid as well. Thanks

rambobambo

Can you pls post the direct link as I can only see 6 months on their … Can you pls post the direct link as I can only see 6 months on their website. Thanks



I think you have to get a Zero Current Account too for this offer

Pic: http://img3.imageshack.us/img3/2960/bankdi.jpg

Late

Provided your credit rating is reasonable (and I'd imagine it is if … Provided your credit rating is reasonable (and I'd imagine it is if you've got a card and a new mortgage with no missed/late payments on either) then application for this should be a formality which will go through with no problems - and the process will do your credit rating no harm (and may in fact improve it slightly, as you'll have a new company adding to your rating score).One thing I would strongly advise, though - destroy your old credit card when you get the new one. It's ridiculously easy to end up with two or more credit cards each with thousands of pounds of debt on when you "switch" to another lender. You think you're saving yourself a fortune in the short term, and you end up paying through the nose for years and years after...



Thanks people, will go ahead and apply

Unfortuantely if you get approved for a Virgin credit card, you're probably not in any debt in the first place, if you see what I mean!

Ok can someone help me out again please...I think iam understanding this slightly wrong. If I transfer my Barclaycard debt 1k to this new card with a fee of around £30. Would I still be paying intrest on the 1k debt on the Natwest card?

It says 0% on balance transfers for 16 months...I originally thought this meant intrest free for 16months. Can someone confirm for me please
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