Existing customer BT offer for me - 5% for 60 months BT offer. Is it good?

book12 · 13 December 2017 at 11:55AM

As an existing customer with the bank with a credit card, I can see the following balance transfer offer:

Rate: 5%
Length: 60 months
Fee: 0%

Is this good? Will a credit check/search be made?

I don't want a new card. I have another credit card with another provider and want the balance to be transferred to the above.

[Deleted User] · 13 December 2017 at 12:13PM

Is the offer exclusive to you? If so probably no credit check
5% fixed for 3 years sounds good as it can cost 3% for a balance transfer, although it would be a good idea to clear the balance in the 5 years.

book12 · 13 December 2017 at 1:29PM

Thanks for your reply.

I believe it's exclusive to me, as I can see it on the credit account (balance transfer section) in online banking.

Also, can I pay the minimum without being charged any interest?

BoGoF · 13 December 2017 at 1:42PM

If the interest rate is 5% then of course you are going to be charged interest.

Personally I don't think it's that great a deal unless you cannot get a 0% transfer rate elesewhere

PeacefulWaters · 13 December 2017 at 3:26PM

Welł 0% for 36 months with a 3% fee is a better deal. That's the sort of new card offer you might get.

A 3% fee v several lots of 5% interest? It's not close.

It's only a good deal if you can't get a cheaper card elsewhere.

Existing customer BT offer for me - 5% for 60 months BT offer. Is it good?

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