We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

BA Amex Card Question!

Hi guys and gals! :D

Was wondering if someone could help me out. Have just applied for the named card but after reading the terms on the website I've been left a bit confused! :confused:

Balance Transfers conducted within the initial 6-month period from the date we open your account will be charged at a Balance Transfer rate of 4.9% p.a. (monthly rate 0.40%) fixed for a period of 6 months from the date we open your account and thereafter at the standard rate of 9.9% p.a. (monthly rate 0.79%), fixed until you've paid off that balance in full. This low Balance Transfer rate of 4.9% p.a. will not apply if you do not pay the minimum amount each month. Balance Transfers conducted after the initial 6-month period from the date we open your account will be charged at the standard rate of 9.9% p.a. (monthly rate 0.79%), fixed until you've paid off that balance in full.

Does this mean that for the first 6 months it is 4.9% APR then after that it goes up to 9.9% APR?

Or does it mean it's 4.9% APR for life for transfers made within the first 6 months, then after that all transfers are 9.9% APR?

:confused:

Would appreciate if someone in the know could explain it to me! :o

Thanks very much! :D

Comments

  • Ali-OK
    Ali-OK Posts: 4,073 Forumite
    Part of the Furniture Debt-free and Proud!
    Hi SS

    These are identical T&C's to the Nectar/Amex card and having had the discussion with Nectar/Sainsburys on behalf of Amex (as I have a SB card) it does mean you get 4.9 APR LOB providing you do the transfer within the first 6 months of opening the account.

    If you transfer after those first 6 months, then it's all at the higher rate.

    Hope that helps

    Edited to add: Unless I've understood it wrong..you've got me thinking now! Anyone else know? :confused:

    Ali
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • dell_2
    dell_2 Posts: 4,089 Forumite
    Does this mean that for the first 6 months it is 4.9% APR then after that it goes up to 9.9% APR?


    ^^^^^^^^^^^^^^^^^

    SS that's the way I've read it.

    I guess you get approved then ask the question?

    Dont bother wasting your time on people who dont like you
  • southernscouser
    southernscouser Posts: 33,745 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    dell wrote:
    SS that's the way I've read it

    Well I read it both ways! :confused: :rotfl:

    Think I might just ask them to split the difference and charge me 7.5% for life! A lot less confusing! :p :rotfl:
  • dell_2
    dell_2 Posts: 4,089 Forumite
    open your account and thereafter at the standard rate of 9.9% p.a.

    Key words for me are "and thereafter"

    Dont bother wasting your time on people who dont like you
  • Ali-OK
    Ali-OK Posts: 4,073 Forumite
    Part of the Furniture Debt-free and Proud!
    I'd say phone them and ask!

    Looks like someone wrote their Ts&Cs on a Friday afternoon after a visit to the local watering hole! :D
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • moneyuser
    moneyuser Posts: 1,085 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    This was discussed in this thread The thread applies to the amex platinum but the principle is the same, i.e. it's just wrong wording.

    If you following the link to apply for the card (rather than just using the Learn More link) and then follow the T & C link from the application page you will see the correct terms.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.