Santander Credit Card
RG2015
Posts: 5,903 Forumite
in Credit cards
I have recently acquired a Santander Everyday credit card with 0% balance transfers for 27 months. There is no time limit for the balance transfers which was a surprise for me.
Is anyone aware of any other credit cards with no time restriction on balance transfers and is there a downside to this card that I may have missed?
Is anyone aware of any other credit cards with no time restriction on balance transfers and is there a downside to this card that I may have missed?
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Comments
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The downside is that once you've done a balance transfer then any further purchases on that card don't benefit from the "up to 56 days" interest free and you're charged interest from the day of purchase.0
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Thanks.The downside is that once you've done a balance transfer then any further purchases on that card don't benefit from the "up to 56 days" interest free and you're charged interest from the day of purchase.
I assume you mean once I have reached my credit limit. My plan is to do several balance transfers until I reach my limit.
I don't intend to use the card for purchases as my NatWest card gives me 1% on supermarket spend and 0.5% everywhere else.0 -
Does anyone else have any experience of this card?
In particular, it offers 0% interest and no fee for balance transfers for 27 months. Does this mean that I can just continue transferring balances up to my available credit limit for 27 months?0 -
Yes it would appear that you can although it looks as if the promotional rate on the balance transfers will end 27 months after account opening regardless of when they were made.Does anyone else have any experience of this card?
In particular, it offers 0% interest and no fee for balance transfers for 27 months. Does this mean that I can just continue transferring balances up to my available credit limit for 27 months?0 -
Does anyone else have any experience of this card?
In particular, it offers 0% interest and no fee for balance transfers for 27 months. Does this mean that I can just continue transferring balances up to my available credit limit for 27 months?Yes it would appear that you can although it looks as if the promotional rate on the balance transfers will end 27 months after account opening regardless of when they were made.
I have got this card on two occasions. The first one is quite a short duration and recently like have exactly the one you have.
I remember the last time I have still added my balance a few months before the promotional rate is ending. I do not remember I ever pay any interest.The downside is that once you've done a balance transfer then any further purchases on that card don't benefit from the "up to 56 days" interest free and you're charged interest from the day of purchase.
There is an easy solution to this. For a big purchase buy it using another card and transfer the balance as soon as the transaction appears on the account.0 -
Yes, and as it stands I can get 1% cashback on another credit card and just transfer the balance to the Santander 0% interest card every month.I have got this card on two occasions. The first one is quite a short duration and recently like have exactly the one you have.
I remember the last time I have still added my balance a few months before the promotional rate is ending. I do not remember I ever pay any interest.
There is an easy solution to this. For a big purchase buy it using another card and transfer the balance as soon as the transaction appears on the account.0
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