We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
FD 6 months Classic 2.9 offer
Milarky
Posts: 6,356 Forumite
I've taken this offer (to existing customers) from FD and now have a card with a 6 month rate at 2.9% (on purchases and balance transfers). They seem to have produced a first statement after the balance transfer that shows no interest having been added however. Is this because FD somehow treat balance transfers (for which it normally charges a fee) as interest free if paid off within 56 days (i.e. the same as purchases?) Certainly the card also offers purchases at the same promotional rate and had this item been a 'purchase' rather than a BT no interest would charged until the second statement (on the assumption that the first statement balance was not cleared)
Any experienced FD card users care to opine?
Any experienced FD card users care to opine?
.....under construction.... COVID is a [discontinued] scam
0
Comments
-
Perhaps this explains why after BTing £100 (to comply with the T&C of the then offer) and (slightly over)paying that off the next day, I wasn't charged a single penny interest and got their 0% on purchases. Where'd you get the info from - when I asked them, they couldn't explain why aren't they charging me?iaye carramba!0
-
This now seems to have resolved itself with the arrival of the paper statement. The estimated interest advised is more than a 'month' at the promotional rate on the present balance - and the transfer was actually described by FD as a 'bill payment'. It may be that, in order to avoid a fee being applied by their automated system, FD have put this through as a 'purchase' themselves and sent on to the credit card. Such an item would not attract interest until the due date on the first statement.....under construction.... COVID is a [discontinued] scam0
-
During 1st 10 days or so in April there was a problem with their system - choosing wrong type of transaction for CC purchases. The purchases needed to be credited and re-entered again. The CS rep told me because of that, my online statement was unreliable.
I don't know what could have happened to other types of activity and how were they recorded, but the above might be affecting your scenario
iaye carramba!0 -
hello
I have a FD credit card and havent seen this happen? is it on the GOLD or STD card?
steve0 -
Just to say - the free wine arrived yesterday (i.e. after about 6 weeks) - and the card is a 'classic' (or bog standard) and certainly not 'gold' FYI
(Update 30-05-2008: The second statement now shows interest is being charged on 'purchases' at 0.242% per month (2.9apr) even though the transaction was, of course, a balance transfer to Egg.).....under construction.... COVID is a [discontinued] scam0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards