Halifax 40 Month Balance Transfer Credit Card
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Halifax 40 Month Balance Transfer Credit Card

28
Found 22nd Feb 2016
Halifax 40 Month Balance Transfer Credit Card

0% on balance transfers for 40 months2.85% effective balance transfer fee(Initial 3% fee, 0.15% refunded within 90 days)18.9% representative APR0% on purchases for 6 monthsOnly available until 7 March 2016

Beware - its UP TO... not guaranteed... 40 months...
- Babbler
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A general question, are you more likely to get a balance transfer application approved compared to a new application or it doesn't matter?
hsnali

A general question, are you more likely to get a balance transfer … A general question, are you more likely to get a balance transfer application approved compared to a new application or it doesn't matter?


I don't think it makes any difference.
Nice find.
Original Poster
hsnali

A general question, are you more likely to get a balance transfer … A general question, are you more likely to get a balance transfer application approved compared to a new application or it doesn't matter?



​shouldn't make any difference no. longest I've seen in a very long time or maybe ever.
Original Poster
aperfectm

Nice find.



​Thanks
Worth a look, heat added thanks
The 40 months depends on your credit score. If it isn't almost perfect you run the risk of getting 20 months interest free instead. Not nearly as impressive. the Virgin card is different in the sense that it's an all or nothing card. If accepted you WILL get the full 38 months interest free and the fee is cheaper at 2.49%.
Edited by: "bellboys" 23rd Feb 2016
UP TO...

Its like the UP TO 50% off sales... 1 item at 50% and the rest at 10 to 20%... great marketing ploy... and once accepted you feel you need to take it as its marked your credit report so cant really apply for another elsewhere.
Original Poster
bellboys

The 40 months depends on your credit score. If it isn't almost perfect … The 40 months depends on your credit score. If it isn't almost perfect you run the risk of getting 20 months interest free instead. Not nearly as impressive. the Virgin card is different in the sense that it's an all or nothing card. If accepted you WILL get the full 38 months interest free and the fee is cheaper at 2.49%.



​at least 51% of people will get 40 months 0%
good find.
richardhopkins1

​at least 51% of people will get 40 months 0%



And potentially 49% won't I've voted hot BTW, not being negative. I just thinkit needs to be made aware that you aren't guaranteed the 40 months even if you are successful in applying. And there are cards that offer better deals than 20 months interest free (in fact the AA card offers up to 22 months with NO FEE)

PS I recommend checking eligibility before actually applying. This can give a decent indication of your chances of being accepted BEFORE you apply and potentially **** up your credit score by being turned down. This puts a 'soft search' on your credit file which you can see but the lender can't. Recommended.

moneysavingexpert.com/eli…ds/
Edited by: "bellboys" 23rd Feb 2016
Good deal if you take advantage of the time to actually clear your debts.
hsnali

A general question, are you more likely to get a balance transfer … A general question, are you more likely to get a balance transfer application approved compared to a new application or it doesn't matter?



makes a huge difference! you are more likely to be approved and are more likely to get a higher credit limit if you do a BT at time of application, than if you dont.
they rejected me...boooooo
halsallms

they rejected me...boooooo


Dont apply anywhere else any time soon...
Babbler

Dont apply anywhere else any time soon...


C'est La vie, life is tough, treats you unfairly
get £20 cash back on quidco
Original Poster
t_del

get £20 cash back on quidco



​ really? missed that!
Babbler

Dont apply anywhere else any time soon...



2 or 3 applications for credit in a couple of weeks will make very little difference over 1 application for credit. It's more like if you make 5 or 6 applications in a short space of time. I tried and tested this over the past couple of years. Once I had my mortgage with a 4 year fix (which was all I was really concerned about), I was fairly happy to "experiment" with my credit score over a couple of years to see exactly what impacted it in terms of applications.

Credit card applications are incredibly frustrating in the fact that you don't know if you'll get approved until you apply, but obviously every application leaves a mark. Same goes for mortgage applications.

For those who get a denial message, it's also worth calling/writing to them. I did this last year with both a Virgin and an Amex card, and they asked for proof of address as well as 3 month of bank statements, and I got approved in both cases.

Don't let 1 rejection get you down to much!
Edited by: "mantisinc" 23rd Feb 2016
I just applied for a balance transfer card with Virgin money that seems a better deal than this. I've got 32 months 0% and only a 0.99% balance transfer fee. They also have an offer on where you get a £50 Virgin experience day voucher.
I applied for a Halifax card last month to do a bit of stoozing and got knocked back. My Experian credit score is 933 which I presume is quite good? It mentioned MBNA on the application, and in years gone by MBNA have never accepted my applications from M&S or Virgin. I'm self employed but have never been refused applications on any other occasion in my lifetime. Any idea if the self employment is what they don't like?
wakingmammoth

I just applied for a balance transfer card with Virgin money that seems a … I just applied for a balance transfer card with Virgin money that seems a better deal than this. I've got 32 months 0% and only a 0.99% balance transfer fee. They also have an offer on where you get a £50 Virgin experience day voucher.


It's all relative I guess, but I would go with your deal.
Lloyds have a 30 month one with a 1% fee if transferred in the first 90 days of getting your card
hsnali

A general question, are you more likely to get a balance transfer … A general question, are you more likely to get a balance transfer application approved compared to a new application or it doesn't matter?



Balance transfer is still debt. You will be approved on your credit rating regardless of the balance transfer.
barryallott

Balance transfer is still debt. You will be approved on your credit … Balance transfer is still debt. You will be approved on your credit rating regardless of the balance transfer.



this is not correct...you have a higher probability of getting approved if you are doing a balance transfer...
Edited by: "10dulkar" 24th Feb 2016
10dulkar

this is not correct...you have a higher probability of getting approved … this is not correct...you have a higher probability of getting approved if you are doing a balance transfer...



Yeah you're right.

Transferring the balance shows you won't be adding more debt and the debt to income remains the same. If you don't do it at the point of application they may think you will start borrowing more.

Worked for a few companies who nudge credit limits up to accommodate the BT and for a little extra spend.

Worked for some that don't care and just issue the same limit regardless.
Can I transfer money to my current account? Never had balance transfer thing before always go for purchases offer. I do not have high amount on credit card as i pay it off full every month but can do with this if i can transfer it to my current account.
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