NEW RBS Balance Transfer Offer conundrum

pinkiebear

Hi everyone

This is my first post and am trying to understand something of a conundrum - I hope someone can shed some light on things?

I have two RBS credit cards - the first is fully paid off and I have received a letter from RBS offering me a balance transfer of 0% with a fee of 3% until my July 2009 statement.

My second RBS credit card has a small amount still outstanding - I have also received a letter from RBS offering me a balance transfer of 0% - BUT WITH NO FEE AND UNTIL MY OCTOBER 2009 STATEMENT.

Can someone possibly explain why when I have two identical cards with the same credit limits, yet I have received two completely different offers.

I usually shuffle balance transfers between credit cards to minimise things and only put a few items onto the first card to carry me over the christmas season - so I am somewhat perplexed as to why the one with no balance outstanding has been offered a worse deal than the one with a balance?

Has anyone else experienced this? I know times are not normal to say the least at the moment with the credit crunch, but this seems strange to me!

Many thanks for any help - Pinkiebear

YorkshireBoy

pinkiebear wrote: »

Can someone possibly explain why when I have two identical cards with the same credit limits, yet I have received two completely different offers.

In a word, entrapment!

They hope you'll continue to spend on the card with the balance, so that all your purchases will be locked in at circa 16.9% APR until the 0% balance (to which all your payments will go towards) is repaid in full.

Devils aren't they?

BenL

Looks likely to me that they are giving a better offer on the card with a balance as when the BT goes onto that card any payments you make will go towards clearing the cheaper debt (BT) whilst the outstanding balance acrues interest until october - no payment you make will go anywhere near this outstanding balance, they clear up for 10 months at 20ish %


If you can, clear the outstanding balance, get a clear "zero" statement then use the BT on this card.

greyhoundcrazy

pinkiebear wrote: »

I have two RBS credit cards - the first is fully paid off and I have received a letter from RBS offering me a balance transfer of 0% with a fee of 3% until my July 2009 statement.

I have had this first offer but not the one below.

My second RBS credit card has a small amount still outstanding - I have also received a letter from RBS offering me a balance transfer of 0% - BUT WITH NO FEE AND UNTIL MY OCTOBER 2009 STATEMENT.

I'm pleased that I have seen this and might wait a week or two to see if I get the other offer too. (I have already zeroed my balance on it recently though so maybe they won't think they can make money out of me with that second offer... though I did use it for spending alot until very recently hmmm).

Thanks anyway as you may have helped me out.

Twister84

Just out of curiousity, when did you open your credit card accounts?

greyhoundcrazy

Twister84 wrote: »

Just out of curiousity, when did you open your credit card accounts?

Erm... a few years back but not sure how many.