Alliance and Leicester

carpy

can anyone who has done a BT on their credit card tell me if they were charged a fee?

i know they say they will charge 2% but in my experience some companies don't take it. (virgin being one)

also if they will take it, my limit is £2500 so it will be the £50 max so will it be worth it for 9 months?

mad

There are loads of places were you can look at best buys for credit cards for balance transfers. This is just one http://www.moneysupermarket.com/cardsp/cardsresults.asp
Ypu can see the ones here that charge a fee or not.
As to if it is worth it if you have a balance of £2500 at an APR of 15.9% that would be £298 interest by my reckoning.
Mind you there are probably others on here with more advice and ready to check my maths

iggy

Transfered £10,400 into my current account last Tuesday night,in my bank on Friday.
With only a £50 Fee.
Minimum payment £5 a month.
Just can't fault them. :j

Iggy :beer:

grumbler

carpy wrote:

...if they will take it, my limit is £2500 so it will be the £50 max so will it be worth it for 9 months?

Yes, they charge 2% BT fee. If you mean stoozing you can make about £2500*(5%*9/12-2%)=£2500*1.75%. This is about £40 gross. See also Stoozing Calculator and http://www.stoozing.com/0fees.htm.

carpy

cheers for the link.

putting it all into there i reckon i'll only make £27!!!

YorkshireBoy

carpy wrote:

putting it all into there i reckon i'll only make £27!!!

It's worse than that...

Assumptions:

• A&L (MBNA) only allow you to BT 95% of your credit limit
• You only get an 8 month 'effective' stooz
• Stooz pot is A&L OS2 @ 5.15% AER
• You are a basic rate tax-payer
• You make the £5 minimum payments from income
• Interest rates don't fall between now and October

Profit = (2500 x 0.95 x 0.0515 x 0.8 / 12 x 8) - 47.50 = £17.73 (spend it wisely )

carpy

yeah i'm thinking it's not worth it!!!!!!

i might as well just cancel it i think