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Balance Transfer's
DilbertJones
Posts: 670 Forumite
in Credit cards
If i was to do a Balance Transfer from my egg card givin gme 0% on the BT, I will be charged a 2&fee, but will i have to pay interest on the BT Fee?
0
Comments
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Hi Robodan,
Yes - I had this recently, I transferred a balance at 3.9% and was charged a 2% fee (£40)
The £40 was added to the balance but will be charged at the usual APR (15.9%) and as usual payments get allocated to the transferred balance before the charge, so you end up paying the 15.9% interest on the charge right until you clear the balance. It's only a few pence per month, but very annoying!
HtH,
Alex0 -
grrr, those money grabbers!!0
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