Credit Card 12 months 0% balance transfer

[etccarmageddon]

this appears to be too good to be true! a credit card which allows 12 months for your 0% balance transfer

http://www.lloydstsb.com/credit_cards/advance_card.asp

[Bifta]

Prefer the HSBC Online card, only 9.9% APR.

i believe Sainsburys do a 0% on balance transfers and also what you spend in the first 12 months

[skyblueheroes]

Originally Posted by Bifta

Prefer the HSBC Online card, only 9.9% APR.

Me too

[bob_builder]

Originally Posted by etccarmageddon

this appears to be too good to be true! a credit card which allows 12 months for your 0% balance transfer

http://www.lloydstsb.com/credit_cards/advance_card.asp

You are right it is too good to be true. If you read the terms and conditions it states that they make a charge of 2% for any balance transfer - so it is not 0% it is 2%!

[etccarmageddon]

Originally Posted by bob_builder

You are right it is too good to be true. If you read the terms and conditions it states that they make a charge of 2% for any balance transfer - so it is not 0% it is 2%!

that's extremely confusing - the 2% charge is...

"except for balance transfers made within the first 6 weeks of opening your account"

Charges
Cash Withdrawals, cheques and balance transfers* - 2% or minimum £2.50
Non-sterling transactions** - 2.75% of the amount of the transaction
Copy statements - £6 for copies of non-current statements
Default charges- £20 for late payments, returned payments or if you go over your credit limit


These details are correct as at 1st November 2004.

Click here for more information about Advance.

View Advance illustrative example.

* except for balance transfers made within the first 6 weeks of opening your account.

[ian@huth]

Originally Posted by bob_builder

You are right it is too good to be true. If you read the terms and conditions it states that they make a charge of 2% for any balance transfer - so it is not 0% it is 2%!

To me it sounds like they charge you 2% on any balance transfer you make from your account with them to another credit card, not on transfers into your account. Some credit cards do this to stop you from constantly transferring balances between cards to avoid paying interest charges.

[etccarmageddon]

Originally Posted by ianathuth

To me it sounds like they charge you 2% on any balance transfer you make from your account with them to another credit card, not on transfers into your account. Some credit cards do this to stop you from constantly transferring balances between cards to avoid paying interest charges.

there's no way they can charge you for paying off you account by using a balance transfer from another credit card - if that's what you mean. I dont know of anyone who would put such a tarriff on a credit card account.


in their terms and conditions they define a balance transfer as:-

"balance transfer - a transfer to us of a debt you owe another lender

the 2% charge is on transferring a balance from another credit card.

Originally Posted by etccarmageddon

this appears to be too good to be true! a credit card which allows 12 months for your 0% balance transfer

http://www.lloydstsb.com/credit_cards/advance_card.asp

It is. If you make a transfer after the first 6 weeks they levy a charge!

For stuff like this I recommend http://www.moneysavingexpert.com/ and sign up for their weekly e-mail with all sorts of useful money saving tips.

See especially http://www.moneysavingexpert.com/cgi...8790162,74665,
and also follow the link for "best balance transfer deals".

[MikeyB]

I'm just getting myself a Capital One "No Hassle Plattenum Mastercard" with 6.9% APR and transferring a small balance from my existing card which has gone up over that past two years to 14.9%APR

Capital One do a card with 0% for bal trans, but the APR is higher, you don't get anything for nothing with these cards!!!!


Sainsbury's is 0% on balance transfers for 1st 5 months

Originally Posted by MikeyB

Sainsbury's is 0% on balance transfers for 1st 5 months

ooohhhhh no it isnt

an incredible 12 months interest free shopping, typical 15.9% APR (variable)

Whatever you want, you should buy it with a Sainsbury's Bank Standard credit card. Whether you're into shoes, clothes, DIY or simply enjoy travelling, you can now shop for the next 12 months and not pay a penny in interest. You can also benefit from our attractive typical rate of 15.9% APR (variable) on purchases.

and 5.94% p.a. for the life of balance transfers made in the first six months

It's not just a great purchase rate, by transferring your existing outstanding credit or store card balances, you can make things easier with one simple monthly repayment. Switch them to your Sainsbury's Bank credit card and you'll only pay 5.94% p.a. on balances transferred within the first six months, until the balance is paid off. Any balances transferred after the six month period will attract our great rate of 15.94% p.a. (variable).

[MikeyB]

Oh yes it is!!!!!!!!!

In your quote gary, it says 5.94% for balance transfers
Look at the advantage card

You can't help but take advantage of this great offer. Switch your balance today and make the most of 0% p.a. on purchases and balance transfers for the first 5 months. You'll enjoy an attractive typical rate of just 13.9% APR (variable).

But as with all cards that offer 0% on something, the APR for everything else is higher.

[Maggy J]

Frankly I'm happier without one.It means I have to save up and look around for bargains when I have the money but it's better than being tempted to be in debt.


Incog.

[etccarmageddon]

I only use my credit cards to gain interest at their expense.