Credit Card Cheques

YorkshireBoy

jay78 wrote:

They attract the same interest as purchases is what I meant and yes I've just applied for the card. As I intend to pay off the amount in 6 or 7 months the interest isn't an issue. I was just concerned that the cheques would attract interest from day 1 as do cash advances.

Virgin took around 7 months to send me some cheques last year. If you have to ask, and then wait, for the cheques you could lose valuable time at 0%.

Why not do what most stoozers do and ask them to SBT the money directly to your current account? Tell them you have an overdraft and loan to settle. Check they still class this as a BT and not a 'money transfer' at cash advance rates.

ti1980

I'm a bit confused by MBNA. They did an SBT with some money from my card a few months ago as they said it would be at the BT rate of 1.9% with a 2% fee, max of £50.
I was a bit concerned as I got one of those letters saying that there was to be a new definition 'money transfer' which was basically an SBT without the good rates.
It was fine though and my rate is at 1.9% and I paid £50 until Sept.

On my account now though they say I can still get a rate of 1.9% but the fee has gone up to 3% or a max of £75.
I can't remember exactly when it was that they were sending out letters saying that an SBT was soon to be classed as a 'money transfer' which meant it wouldn't be worth getting them to send the money to a bank account.

So what has happened to 'money transfer?' Anyone know?