Credit card balance transfer.

hi,
need some advice.I have 2500 on my boi (2in1) credit card.i also have loan with boi for 5000. my credit card introductory6month period is nearly over and am thinking bout switchin over to ulster bank or some other provider to avail of their 6/9 month bal t/f offer. will bank of ireland hold a grudge and not give me further loans if i do this. also what is the logistics of a bal t/f . do i have to cancel cards,how exactly does new lender pay off current credit card. also would bank of ireland be prepared to switch me over to a diff cr.card so i can avail of a bal t/f 0% or would they think i was pullin the ****. any help appreciated.

Re: cr.card bal t/f

If you could edit your post and the title into something approximating English it might help people understand what you want and give you an answer.

HTH

o.k let me try again.

1)i want to switch credit card from boi to another provider,how does other provider pay off my outstanding balance of 2500?

2)i have loan with boi ,will boi hold a grudge if i do switch credit cards and not give me any further loans?

daredevil096 said:

o.k let me try again.

1)i want to switch credit card from boi to another provider,how does other provider pay off my outstanding balance of 2500?

2)i have loan with boi ,will boi hold a grudge if i do switch credit cards and not give me any further loans?

Click to expand...

1) - It's relatively easy to switch the balance. You either a) tell the new card company to do it at the time you are applying (there probably will be a section on the form) or b) ring them after you've got the new card and instruct them to transfer the amount over the phone. Assuming your limit with the new company meets or exceeds the amount owing on the old card.

Oh, and once you've transferred the amount and you've received confirmation, destroy the old card!! The tempation is staggering! There are some other handy tips on www.itsyourmoney.ie.

2) - I would say almost definitely not, unless you know the bank manager personally and he/she takes a grudge or something. From their perspective, you've paid off the card debt, so they can't really complain. What would be important for future loan applications is to show that you've continued to control the credit card debt (e.g. no further use of the old card) and that you continue to show an ability to pay.

Hi,
I am also interested in transferring the balance of my credit card. I currently have a Halifax 0% rate for 6 months, this period is nearing the end now so am considering transferring to BOI 0% rate for further 6 months - should be completely cleared then!
Anyone had any problems doing this?

Shouldn't be a problem - just make sure you cancel the Halifax to aavoid paying 2 lots of stamp duty. You might need confirmation from them that you have paid the stamp duty this year - to stop BOI charging it again.

That sounds good thanks irishlinks. Do all banks charge stamp duty when you close your credit card also?

The stamp duty is a government charge that the banks have to pass on to credit card holders. It is 30 euro a year - it's not a charge for closing your account. You should only have to pay one lot of stamp duty in a year if you only have 1 credit card active.

Just another thing, is it possible to transfer the balance of 2 credit cards (different names) onto one new credit card? Partner and I would prefer to just have a joint credit card....

househunter1 said:

Just another thing, is it possible to transfer the balance of 2 credit cards (different names) onto one new credit card? Partner and I would prefer to just have a joint credit card....

Click to expand...

I see no problem with that - as long as the balance on those cards is less than the credit limit on the new card.
(Less stamp duty on one credit card account too)