Best place to search for credit cards for balance transfers

• "AMO" , Sat, 23 Apr 2005 00:27:01 +0100:

I have always found 'Martin's Money Saving' expert website at very good for these sort of things.

• "AMO" , Sat, 23 Apr 2005 00:27:01 +0100:

I have always found 'Martin's Money Saving' expert website at very good for these sort of things.

I understand that you can revisit the same companies after a reasonable gap. You would probably need to close down accounts rather than leave them dormant though.

Neb

Yep, you can then apply as a "brand new customer" to get their good offers again!

Reminds me of this excellent TV ad:

I don't know - I have 16 credit card accounts, 14 of which are dormant (i.e., haven't used them for a long time), however, I recently applied for two different cards (Marbles and John Lewis Partnership Card) and was approved for both. Interestly, both Marbles and JLPC are operated by HSBC.

I added up my total credit limit the other day - 81,750 - scary!

Yeah, they're all closed down. Maybe its me. I recently reapplied for an Egg card and got a 12K limit.

However, I reapplied for a Capital One card (I think it was Capital One - it was the one that MSE was advertising for an 18 month balance transfer) and was declined and given a 1K standard account instead. I declined.

I also got rejected on another credit card.

Thought it was maybe me, so I paid Equifax and whatever the other credit rating company is, for a credit report. All it shows is a list of credit cards I have applied for and a list of my previous addresses.

I guess from this they work out whether you spend a lot of time going for credit cards just for balance transfers?

Either way, I think I'll keep active some of my favourite cards.

AMO

I definately shut down my credit cards if I don't use them. Only keep one open for an emergency. Problem with keeping them open is that some of them have clauses so that if you don't use them in a year then they'll charge you a fee so if you keep them open you need to constantly check whenever the terms and conditions change as to whether they apply. Having said that in the last 5-10 years I haven't seen ones with annual fees as this market has become competitive. Also, when they're closed, you don't run the risk of someone using your number fraudulantly. They're not really that secure.

AMO