Card Tarts article in the Daily Mail today!

Shinds

Hi all,

Has anybody read the Daily Mail today?

There is a Card Tarts article on page 47 by Liz Philips.

;D

They're referring to us Stoozers as 'Rate Tarts'!

They even mention Martin from moneysavingexpert.com

sly_dog_jonah

Is this the same article?

http://www.thisismoney.com/20041117/ht84765.html

Reaper

Tut tut. Richard of MoneySupermarket is telling people to break the credit card T&Cs:

So Richard says the trick is to move your money as a balance transfer from your 0% card to Egg, creating a positive balance on the Egg card, then move it on to your bank or savings account.

Not allowed, it is meant to pay off a debt. Not saying I don't do it, but I wouldn't go into print and tell everyone I'm breaking the rules!

Robert_Sterling_3

If your smarter than Richard you probably would not want the world and the Credit Card Companies to know exactly what was going on.

Shinds

Good point Pale-Rider

Robert_Sterling_3

I followed the link which in turn linked me to "creditcardnews" website.
It was listing the best 0% cards and I assume rightly or wrongly get a shilling or two in commission.
It mentioned the Mint Card and said we don't tell you about that one.
I guess MINT is so good it does not need to pay commission. It lets you do SBTs using free MINT cheques all at no cost. Lovely you could make a mint from it.

Lozz

Tut tut. Richard of MoneySupermarket is telling people to break the credit card T&Cs:

Not allowed, it is meant to pay off a debt. Not saying I don't do it, but I wouldn't go into print and tell everyone I'm breaking the rules!

Now this has raised an interesting point though, in the article Richard states that he is offsetting the money against his mortgage. If his account works the same as mine, everytime I get an advice slip from a cashpoint it tells me I am SERIOUSLY in debt, to the tune of about 100 grand overdrawn

Can the transfer from Egg then be construed as paying off some of a debt ???

Gotabiscuit

Is this the same Daily Mail who were criticising the same thing a few weeks ago? ::)

http://www.thisismoney.com/20041018/nm83620.html

Martinslovechild

Mmm..

Hope Richard doesn't spoil the party.

If I was a Manager working at Egg reading the Daily Mail right now, I'd be wanting to look into it to see whether there's any truth in the claim...

Jane.tweedynn

There is a David Beckham in all walks of life who wants to tell us how clever they have been.

We all think he is a complete !!!!!!. Its even worse that he is a director of a decent website that compares financial products, I just hope he hasn't done any damage for everyone else with his boasting. If he has done damage to his own credit I am glad.

You also get the feeling from reading the post that he has hardly pioneered this 0% concept and has only been in it since reading websites such as MSE. He has not had his offset mortgage a year and the post does not include previous years savings(earnings).

Also did anyone do the maths to actually work out the figures don't add up.

£68338 at 5.25% a year totals £3587 but this is calculating the interest rate at its current rate and not including the 4 rate rises since last November. In fact if you actually do the calculations on £68338 (and we all know you can maintain a constant credit amount over a year, NOT, no doubt this will include the most he has ever had borrowed at one time) over the last year taking into account the interest rate the approx amount saved is £2,947 and this does not account for his monthly payments which should be discounted if they are taken from the offset account.

Also I'm glad he's very astute and checks the terms and conditions of all his offers because Egg offer for the anniversary period is 5 months and not 6 as mentioned.

Robert_Sterling_3

He may be a RATE TART now but soon he may be in a JAM.