Halifax Just sent 2 credit card cheques...

Moggles_2

anotherpaul wrote: »

The letter I got with mine says exactly this in well laid out table on the back.

I did preface my remarks with "unless otherwise stated ..."

If we credit card users are sceptical about the benefits of these promotions, the card companies have only themselves to blame, IMO.

Thanks for your feedback, Anotherpaul. It's good to see my suspicions were unfounded for once. Let's hope it catches on.

bigstevex

I'm quite well disciplined when it comes to 0% offers, but i think im going to use the life of balance so I can clear some higher rate debts quicker

thanks for the help guys, just need confirmation that I can pay it into a bank account, i'll give them a call tomorrow

TonyYorkshireman

bigstevex wrote: »

I'm quite well disciplined when it comes to 0% offers, but i think im going to use the life of balance so I can clear some higher rate debts quicker

thanks for the help guys, just need confirmation that I can pay it into a bank account, i'll give them a call tomorrow

Please post again with your findings bigstevex!
I too received this letter but i was offered:
0% for 6 months (3% fee)
5.94% Life of balance (3% fee)

Am I right in saying the transfer to a bank account (assuming we find out if this is allowed on this deal) is whats also known as a "Super Balance Tranfer"?

Cheers,

Tony.

frenchconnection200

bigstevex wrote: »

It says i can use them to pay off what ever i like, but does this include paying them into a curent account? The small print says I can't pay off other halifax debts including cards/overdrafts and loans. Basically just has a 3% fee and I can do what I like with them, does this sound right? I always thought it was only MBNA that did this?

I totally agree with this, the small print says you can't do balance transfers from current accounts but the cheques and a balance transfer are two different things, it makes this clear at the top of the letter. A balance transfer can only be carried out by phone or online however it clearly state that the cheques can be used as normal cheques, they are credit card cheques which have been given the same life of balance interest rate.

anotherpaul_2

frenchconnection200 wrote: »

I totally agree with this, the small print says you can't do balance transfers from current accounts but the cheques and a balance transfer are two different things, it makes this clear at the top of the letter. A balance transfer can only be carried out by phone or online however it clearly state that the cheques can be used as normal cheques, they are credit card cheques which have been given the same life of balance interest rate.

Interesting. I shall give them a ring tonight and check.

bigstevex

It is a bit sly if you read it more, the cheques and front page make it sound like you can put it into a bank account (the cheque also says 'cash boost' on it) yet condition 4 on the reverse says you CANNOT pay off a loan or bank account with these cheques!

I was offered, 0% for 9 months or 3.94% for the life of the balance!

frenchconnection200

bigstevex wrote: »

It is a bit sly if you read it more, the cheques and front page make it sound like you can put it into a bank account (the cheque also says 'cash boost' on it) yet condition 4 on the reverse says you CANNOT pay off a loan or bank account with these cheques!

I was offered, 0% for 9 months or 3.94% for the life of the balance!

It says at point 4 you can't do a balance transfer and it clearly says on the letter this is by phone or internet only. If you read the front of the letter it talks about balance transfers and then 5th paragraph says they've also lowered the interest rate on the credit card cheques. The BT uses the code, the cheques are just cheques with the same offer attatched to them which is unusual and makes it a half decent offer.

beartie

So, can they be paid into a current account? anyone done it ?

anotherpaul_2

beartie wrote: »

So, can they be paid into a current account? anyone done it ?

They can almost certainly be paid into a current account. What's not clear is if they get assigned to the credit card as the special rate stated on the cheque or if Halifax say you breached the terms and conditions and treat it as a cash advance. I'm going to phone them - probably tomorrow - and ask.

anotherpaul_2

I phoned Halifax just now to ask. They guy I spoke to said that the cheques can be paid into a bank account, but that it would be at a higher rate - not the rate printed on the cheque. He didn't seem entirely confident, so may have been mistaken, but certainly anyone thinking about doing this should phone and speak to them first.