Capital one

Engines

They are offering 0% on purchaes for 3 months and 0% on bt (with 2% bt fee) until Aug 07. If there is a requirement to spend £100 to qualify for the bt deal, is it possible to spend the £100 and clear the balance at the end of the 3month period and then transfer an existing balance? If so wouldn't that aviod paying any intest?

HGLTsuperstar

Yes Engines, that is fine but you need to remember the impact of an uncapped 2% fee!

Engines

Can somebody explain what is meant by an uncapped 2% bt and what the impact would be?

Bargain_Annie

Uncapped means they will charge you 2% on however much you transfer - no matter how much (some companies cap at £50 charge). Impact is the more you transfer, the more it will cost.

Anon

I found them to be good except for the closing of my card - its taken them 6 months to get their backside in gear and finally report it to the CRA despite several letters in previous months saying they had informed them.

Me too! I have requested my credit reference files again to see if they have finally removed them (closed the account in early October!). If they haven't, has anyone any recent experience of wangling a new 0% deal (with no fee) - I have had two cards since closing this and others with only small limits, probably due to this still showing as available credit (high limit).

Many thanks
Anon

The_Boss

Geordie_Girl wrote:

Dont forget you have to spend £100 before July 1 st to enable you to get the 15 month interest free and they charge you 1.24% on new purchases which will last the term of the 15 month period. Which means if you spend a £100 only you end up paying another £24.00 (I think) if you take the balance transfer over the 15 month period.

Hmm. You have been thanked for this post, yet it contains dodgy advice that could lead to someone paying unnecessary interest. As stated before, the £100 spend doesnt apply to the new offer. No spend amount is necessary, therefore no interest on it throughout the promotional period.

sylwright

Applied for this last week to move a balance from another card and it didn't go through online but received a letter yesterday saying been refused. Checked my credit report with Experian and there's nothing on there at all to give them any reason to refuse me. Puzzled and very annoyed that there is now an extra search on my credit for nothing.

The_Boss

sylwright wrote:

Applied for this last week to move a balance from another card and it didn't go through online but received a letter yesterday saying been refused. Checked my credit report with Experian and there's nothing on there at all to give them any reason to refuse me. Puzzled and very annoyed that there is now an extra search on my credit for nothing.

Unless your credit limits are around your total salary or you have a large percentage of used credit on each card.

The_Boss

Geordie_Girl wrote:

I have the new capital one card and after checking with customer service they advised that there would be a 1.24% a month on the £100 you have to spend to get the15 month interest free offer until the balance transfer is paid off, so if you took 15 months to pay the balance off then you would have 15 x 1.24% on the £100 you had to spend.

NOT THE LATEST OFFER!