Has anyone ever managed to transfer overseas credit card balances to a UK card?
Aug 27th 2008, 12:15 pm
#1
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Has anyone ever managed to transfer overseas credit card balances to a UK card?
Just before I left Sydney, I got myself a small credit card to tide me over when i first arrived here in case of emergencies. As many will know, I had one when i got very ill.
To make life easier, I was wondering if any of these UK credit card deals of 0% interest on balance tranfers would apply to overseas cards. It would make it easier paying it off from here as opposed to sending money to Aus all the time.Its not a large amount ($2000AU)
Has anyone managed to do this or know of anyone who has?
I dont want to start applying here, get refused, and have it affect my credit rating.
To make life easier, I was wondering if any of these UK credit card deals of 0% interest on balance tranfers would apply to overseas cards. It would make it easier paying it off from here as opposed to sending money to Aus all the time.Its not a large amount ($2000AU)
Has anyone managed to do this or know of anyone who has?
I dont want to start applying here, get refused, and have it affect my credit rating.
Aug 27th 2008, 10:16 pm
#2
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Location: Back in the UK after 12 years in Australia
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Re: Has anyone ever managed to transfer overseas credit card balances to a UK card?
Hi flea
It's a great idea but unless the UK system for doing transfers out of credit cards is set up differently to the Aussie one I don't think it would work as far as getting you the 0% rate.
You would have to take money out of your British card as a cash advance to pay your Aussie one so you would be paying interest on the Brit one right away.
This is because with the 0% balance transfers in Aus (have no exp with British system so willing to be corrected) you hand in your old card to the new bank and fill out a form authorising closure of the old card and the new bank organises it, through the bank clearing system which the Aussie banks do (which even nowadays involves exchanging bits of paper in many cases).
I don't think they would be able to effect a balance transfer to an overseas bank through this system.
It's a great idea though, and if you figure out a way around it please let post it on the forum (and I have never worked for a bank in the UK so I could be wrong, it is worth asking your UK bank)
It's a great idea but unless the UK system for doing transfers out of credit cards is set up differently to the Aussie one I don't think it would work as far as getting you the 0% rate.
You would have to take money out of your British card as a cash advance to pay your Aussie one so you would be paying interest on the Brit one right away.
This is because with the 0% balance transfers in Aus (have no exp with British system so willing to be corrected) you hand in your old card to the new bank and fill out a form authorising closure of the old card and the new bank organises it, through the bank clearing system which the Aussie banks do (which even nowadays involves exchanging bits of paper in many cases).
I don't think they would be able to effect a balance transfer to an overseas bank through this system.
It's a great idea though, and if you figure out a way around it please let post it on the forum (and I have never worked for a bank in the UK so I could be wrong, it is worth asking your UK bank)
Sep 6th 2008, 3:50 pm
#3
I don't give a damn
Thread Starter
Joined: Apr 2007
Location: In the arms of my family. Heaven...
Posts: 4,980
Re: Has anyone ever managed to transfer overseas credit card balances to a UK card?
Hi flea
It's a great idea but unless the UK system for doing transfers out of credit cards is set up differently to the Aussie one I don't think it would work as far as getting you the 0% rate.
You would have to take money out of your British card as a cash advance to pay your Aussie one so you would be paying interest on the Brit one right away.
This is because with the 0% balance transfers in Aus (have no exp with British system so willing to be corrected) you hand in your old card to the new bank and fill out a form authorising closure of the old card and the new bank organises it, through the bank clearing system which the Aussie banks do (which even nowadays involves exchanging bits of paper in many cases).
I don't think they would be able to effect a balance transfer to an overseas bank through this system.
It's a great idea though, and if you figure out a way around it please let post it on the forum (and I have never worked for a bank in the UK so I could be wrong, it is worth asking your UK bank)
It's a great idea but unless the UK system for doing transfers out of credit cards is set up differently to the Aussie one I don't think it would work as far as getting you the 0% rate.
You would have to take money out of your British card as a cash advance to pay your Aussie one so you would be paying interest on the Brit one right away.
This is because with the 0% balance transfers in Aus (have no exp with British system so willing to be corrected) you hand in your old card to the new bank and fill out a form authorising closure of the old card and the new bank organises it, through the bank clearing system which the Aussie banks do (which even nowadays involves exchanging bits of paper in many cases).
I don't think they would be able to effect a balance transfer to an overseas bank through this system.
It's a great idea though, and if you figure out a way around it please let post it on the forum (and I have never worked for a bank in the UK so I could be wrong, it is worth asking your UK bank)
I'm a bit confused about what you said. My intention IS to hand in my Australian credit card and close the Aussie account IF a UK company would be willing to do an international 0% interest balance transfer, thus putting the $2000 i owe into a UK credit card account.
Havent had any other replies, so i guess it is not possible anyway.
Shame really, as it would make my monthly payments a lot simpler when OH finally leaves Sydney and joins me in UK. It is ok for now as he is paying it from his account at the moment
Sep 6th 2008, 9:16 pm
#4
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Location: Back in the UK after 12 years in Australia
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Re: Has anyone ever managed to transfer overseas credit card balances to a UK card?
Hi flea
Hope you are on the mend now.
Here is the short version of my reply, sorry if I rambled a bit on the previous one!
Knowing the banking system in Australia I don't think it's technically possible to do the interest free balance transfer thing.
But you could always ask the UK bank nicely and see what they say (read the small print on the balance transfer offer first).
To transfer money from Aus to the UK ANZ and NAB now do international transfers via internet banking cheaper than over the counter in a branch.
Hope you are on the mend now.
Here is the short version of my reply, sorry if I rambled a bit on the previous one!
Knowing the banking system in Australia I don't think it's technically possible to do the interest free balance transfer thing.
But you could always ask the UK bank nicely and see what they say (read the small print on the balance transfer offer first).
To transfer money from Aus to the UK ANZ and NAB now do international transfers via internet banking cheaper than over the counter in a branch.
