Sainsburys Bank existing customer 5.94% LOB offer - now with 2% fee!

browsingid

I was under the impression that Sainsburys Bank was one of the few providers remaining that had no balance transfer fees. Looks like this *may* be on the way out, as this morning I received a letter extending the offer period for making LOB transfers at 5.94% until February 06, but shock horror, now with a 2% BT fee (capped at 2%).

A shame really, as I have had this card practically maxed out for ages on the LOB rates, topping it up periodically. Will be avoiding using it in the future if BT fees become standard, although their website still states no BT fee on new applications, so who knows. I'll be a pessimist and consider it the thin end of the wedge!

charlie12

We were offered this about a month ago by telephone and there was a 2% fee then too.

Milarky

I'd had the same offer [twice!] Once in June - with no fee - for balances transferred before 31st December, and again in October - this time with a fee for balances transferred before the 28th February 2006. The letters and all looked the same except for that pesky fee added at the bottom of the second one.

It seems they have added a fee since the original offer, but if anyone wants to phone up now and try quoting the reference given in the June letter and thereby avoiding a fee it is:

B3300501

The number to call is 0870 609 5909 Normal times are: 8am-8pm Sat, 8am-6pm, 8am-Midnight Mon-Fri

Good Luck

browsingid

I received the extension letter this morning, but funnily enough, I had just used the original BT-free code yesterday with no problems, so that code is still in use until the end of December.

I am just a bit disappointed that Sainsburys have started charging.

canny_yorkshireman_2

I think that free balence transfers will be a thing of the past in the new year as tarts like us have had it so good now for the past 3 years and its pay back time from the card companies. I suspect that to get free tranfers you will have to tie in to the company for other products which will of-course will not be market leading eg current accounts etc. So what will be the next giveaway for cards well I think rates will tend to drop and money back offers will be more previlant hope I am wrong but even if not it will be ever more difficult to get those tranfers free.
Just to add a footnote that there may be a loophole in the abbey card I have just closed and received a letter confirming this but was invited to apply again for the card so may leave it a few weeks to see if i can get the card again with a fee free balence transfer I will post up if this is the case