Barclaycard - 0% till April '09

Dagobert

I received a BT offer from Barclaycard for my OnePulse card: 0% until April '09, 2.5% handling fee via Barclaycard cheque.

Will I have to pay interest on the handling fee in the following months?

I paid the credit card off in full to-day as well as current statement balance, so the account is zeroed. I am expecting a credit card refund; does that increase the available limit?

LumpyCustard_2

Dagobert wrote: »

I received a BT offer from Barclaycard for my OnePulse card: 0% until April '09, 2.5% handling fee via Barclaycard cheque.

Will I have to pay interest on the handling fee in the following months?

I paid the credit card off in full to-day as well as current statement balance, so the account is zeroed. I am expecting a credit card refund; does that increase the available limit?

That doesn't sound like a very good deal to me - 2.5% over 6 months means you would have to get at least 5% after tax on interest to make any money at all, and probably more since you wouldn't be able to stooze for the whole six months.

Dagobert

LumpyCustard wrote:

and probably more since you wouldn't be able to stooze for the whole six months

I didn't understand this bit.

nzseries1

Well in practice, you can't stooze for the whole six months because it takes time for the cash to get from your barclaycard to your savings account, then it takes time for you to get your savings back to your barclaycard at the end of the term... so you really can stooze for only 5 and a half months max.

Milarky

A six month balance is only, on average, about 96% with the usual 2% minimum payments (i.e. borrow 2500, and the average amount you keep on deposit for that period is about 2400) So to a first approximation a 2.5% fee over six months is about '5%' x 1.04 or '5.2%' (6.5% if you are basic rate)