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New card - Abbey Zero
PBA
Posts: 1,521 Forumite
in Credit cards
New card being launched by Abbey from Monday, Abbey Zero. Benefits are:
0% balance transfer and purchases for 6 months, no BT fee
0% foreign transaction fee
0% cash withdrawal fee
Not great for the stoozers, but potentially a competitor for Nationwide with the 0% foreign fee. As I've said on here before, if you want a quick decision apply at an Abbey branch, where your application will be processed immediately.
Also relevant is that Abbey's existing 13 months balance transfer offer is still available, but the fee from Monday will go up to 3%. Also all existing cardholders will get 0% foreign transaction fee for a couple months, I think it's July and August, but they'll all be mailed to let them know.
0% balance transfer and purchases for 6 months, no BT fee
0% foreign transaction fee
0% cash withdrawal fee
Not great for the stoozers, but potentially a competitor for Nationwide with the 0% foreign fee. As I've said on here before, if you want a quick decision apply at an Abbey branch, where your application will be processed immediately.
Also relevant is that Abbey's existing 13 months balance transfer offer is still available, but the fee from Monday will go up to 3%. Also all existing cardholders will get 0% foreign transaction fee for a couple months, I think it's July and August, but they'll all be mailed to let them know.
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Comments
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Does the card require perfect credit rating?0
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I'd imagine it's the same as Abbey's current offering, but can't say for sure (I just key the applications, not make the decisions!)skyrider007 wrote: »Does the card require perfect credit rating?0 -
Thanks PBA.
There's also a write-up on thisismoney.co.uk
http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=440811&in_page_id=9&ct=5
I'd imagine there will be many who think otherwise.Not great for the stoozers
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Hi, we're wondering if this might be a solution for my husband and son who work on yachts and regularly need to withdraw cash abroad, and prefer to use credit cards for purchases abroad. It says it charges interest calculated from the day of withdrawal at 20+% - isn't this expensive? Or is this only after the 'holiday' period ends?0
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cruisewidow wrote: »Hi, we're wondering if this might be a solution for my husband and son who work on yachts and regularly need to withdraw cash abroad, and prefer to use credit cards for purchases abroad.
Have you considered a pre-loaded € or $ card like www.fairfx.com ?Ethical moneysaver0 -
sureley a 3% BT fee is worth paying if you've got any card with an APR of 15.9% or lower, if you're not a tart that is
Abbey's card is 18.9%Official DFW Nerd Club - Member no. 784 - Proud to be dealing with my debts0 -
cruisewidow wrote: »Hi, we're wondering if this might be a solution for my husband and son who work on yachts and regularly need to withdraw cash abroad, and prefer to use credit cards for purchases abroad. It says it charges interest calculated from the day of withdrawal at 20+% - isn't this expensive? Or is this only after the 'holiday' period ends?
Withdrawing cash using a credit card is NOT a good idea. The fee may well be zero, but you'll still have to pay 25.9% from day 1 til repaid in full.
Looks ideal though for 6 months stoozing and those who clear their balance in full each month, but not for those who don't due the 18.90% after the 6 months.
A GOOD product from Abbey for once.0 -
I obviously wasn't thinking clearly when I wrote that. Lazy stoozers like me I guess would prefer the other Abbey deal, 13 months 0% with 3% fee, but I forgot about the MSE hardcore stoozers who'll jump on any fee-free deals :rolleyes:. Personally I thought it was going to be the 0% foreign exchange fee that people would be interested in, but I guess every good MSE who travels abroad already has a Nationwide card in their wallet.YorkshireBoy wrote: »I'd imagine there will be many who think otherwise.0 -
Anyone else finding that the Abbey website isn't working when you try to do an online application?"The credit card application you requested is currently unavailable"
Then if you click on it it redirects to MBNA Europe...
Was looking forward to applying for this in my lunch break today
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