If you’re experiencing difficult debts, confusing credit cards or inscrutable ISAs, then our economics expert is here to help. Why not write to OurExpert@CreditChoices.co.uk
Andy Williams is our Online Savings Expert at CreditChoices.co.uk and can assist with all monetary matters no matter how big or small, from piggy banks to re-mortgaging and beyond.
Our expert says...
Hi Arnold…..
There’s a very simple reason why you’re finding yourself restricted in this way.
At face value, the cards seem unrelated. In fact, both cards are issued by the same bank, Royal Bank of Scotland(www.rbs.co.uk) (RBS). You’re not permitted to transfer balances between cards issued by the same banking group, hence your current predicament.
It’s imperative you ascertain exactly who your credit card issuer is before embarking on a prospective transfer, it will save you both time and a potential hit on your credit rating. Each time you unsuccessfully apply for a credit card or loan, it gets logged on your credit file. In the current climate, blemishes like this could prevent you from being accepted for credit in the future.
