alliance and leicester cheque stoozing

consumers_revenge

sorry YB was doing it on 5.8%

and AL card wants the greater of 3% min payment or £25 so its the 3%:eek:

YorkshireBoy

consumers_revenge wrote: »

and AL card wants the greater of 3% min payment or £25 so its the 3%:eek:

Are you sure?

https://wwwn.applyonlinenow.com/UKCCapp/Ctl/link?eid=EF3C6FB7

consumers_revenge

looks like they might roll it out to all mbna customers inc virgin cc http://blogs.money.sky.com/house-hunters/why-raising-minimum-repayment-terms-on-credit-cards-is-unfair

Minimum repayment £25.00 or 3.00%, which ever is the greatest of the outstanding balance.


http://www.moneyexpert.com/Credit-Cards/ProductDetails.aspx?affiliateID=1&provider=Alliance+%26+Leicester&productID=85401&productTypeID=1

sorry if this is bad news

YorkshireBoy

You've read your first link incorrectly...

The move will initially affect credit card customers at Alliance & Leicester, who will see their minimum repayment terms switch in October from the lesser of 3% or £5 plus any interest charges, to the greater of £25 or £5 plus interest charges.

So, it's the greater of £25 or interest + £5. In a 0% promotion (which you are on), your minimum payment (after the first one, which includes the 3% fee) will be £25 because there is no interest.


And your second link is just plain wrong!!!! Why do you take notice of 'one-liners' on 3rd party websites? The T&C's (I provided earlier) are what govern your account...not what some ill-informed journalist says.

sorry if this is bad news

See above.

poker_face

sicker wrote: »

When you phone and ask for the transfer to be made try negotiating a lesser fee than 3%. I managed to get 2% last time I cleared my balance then got a new balance transfer . Mind you I have used them for a few years.

I tried this and it worked. Thanks!:money: