Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Credit Card - 0% Balance Transfer - Who is the most competitive?

Options
  • 13-08-2009 2:13pm
    #1
    Steffano2002
    Registered Users Posts: 5,918 ✭✭✭


    I currently have two credit cards (AIB & MBNA) and I'm looking to transfer both balances to a new Credit Card and avail of 0% Interest for as long as possible (really want to get rid of these!).

    First Active were the best (0% for 9 months) but they are in the process of merging with Ulster Bank so I can't apply anymore...

    Could you recommend a Company with a good "0% Balance Transfer" offer at present?

    Thank you in advance! :)


Comments

  • Options
    #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,905 Admin ✭✭✭✭✭Toots


    Bank of Ireland are doing a 0% balance transfer for the first 6 months at the moment.


  • Options
    #3
    100gSoma
    Registered Users Posts: 1,285 ✭✭✭100gSoma


    just be aware that after the 6 months the price might jump to 13 or 14%.
    I know in some cases its better to go with a 3.25% over 9 months rather than a 0% for 6 months then a 14% or something similar. It all depends on if you plan to have the amount cleared in 6 months


  • Options
    #4
    Steffano2002
    Registered Users Posts: 5,918 ✭✭✭Steffano2002


    Toots* wrote: »
    Bank of Ireland are doing a 0% balance transfer for the first 6 months at the moment.
    Thanks Toots! ;)


  • Options
    #5
    Steffano2002
    Registered Users Posts: 5,918 ✭✭✭Steffano2002


    100gSoma wrote: »
    just be aware that after the 6 months the price might jump to 13 or 14%.
    I know in some cases its better to go with a 3.25% over 9 months rather than a 0% for 6 months then a 14% or something similar. It all depends on if you plan to have the amount cleared in 6 months
    Very good point indeed! I think I better calculate my current combined Interest Rate before jumping ship as I definitely don't think I'll have the balance repaid in full before the end of the 0% period! :eek:


  • Options
    #6
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    According to Money Guide - MBNA have 10 months 0% on balance transfers on the Platinum Card (if you are eligible)


  • Advertisement
  • Options
    #7
    Steffano2002
    Registered Users Posts: 5,918 ✭✭✭Steffano2002


    Ogham wrote: »
    According to Money Guide - MBNA have 10 months 0% on balance transfers on the Platinum Card (if you are eligible)
    Thanks for the info Ogham! That's a good offer!

    I rang both MBNA and AIB and it turns out this AIB (Click) I have is really good value at 8.5% APR! The MBNA APR was 14.9% (Ouch!) so I asked them to lower it so now it's at 10.9% (could have done that months ago... :rolleyes:).

    I'm actually thinking of transferring my MBNA balance to my AIB Click card because nobody can beat that APR at the moment (AFAIK).

    The MBNA "10 months at 0%" sounds appealing but I'll get slapped with 14.9% APR thereafter... :/


  • Options
    #8
    mchammer
    Registered Users Posts: 225 ✭✭mchammer


    Steffano2002 wrote: »
    The MBNA "10 months at 0%" sounds appealing but I'll get slapped with 14.9% APR thereafter... :/

    Is it possible to take the 10months at 0% and then jump to another offer low interest credit card or is there something prohibiting this in the contract?


Advertisement