Santander 0% BT no fee

karie

applied last week and got my credit agreement today - was very excited when saw Santander envelope until I realised it doesn't tell you your credit limit!

how long after credit agreement should card arrive?

thanks!
karie

CannyJock

Couple of weeks maybe. Maybe longer.

splatt30

Is there a maximum percentage balance transfer on these cards?
My husband optimistically asked for a £5000 BT.
They have done a BT of £1500. The card arrived today with a £2000 limit. Is there anything stopping us asking to BT the remaining £500 avaliable on the card?

CannyJock

Nope, phone and ask, confirm 0% rate, 0% fee and exact end date of 0% period.

stevenabell

Although I'm not an Abbey customer and would therefore have the 3% BT fee, I did just phone Santander and ask if their terms and conditions allow the BT to put the other card (my Egg Money, in this case) into credit. I.e. does the BT explicitly require the other card to be in debt. They said that the other card does have to be in debt by whatever amount I want to BT, which seems to conflict with what folk have said in this thread, i.e. thousands in credit on their Egg Money.

Any thoughts?!?

YorkshireBoy

stevenabell wrote: »

They said that the other card does have to be in debt by whatever amount I want to BT

Well they would say that wouldn't they!?

which seems to conflict with what folk have said in this thread

Santander won't be at all interested in helping you stooz, whereas the people here will.

i.e. thousands in credit on their Egg Money.

Most I ever had was £40K+, when 3 BTs hit the account during my summer holiday (was OK because Egg Money paid 4% then and I was only moving for another 2% or so).

Any thoughts?!?

One in particular...stop alerting card providers to your stoozing plans!

CannyJock

stevenabell wrote: »

Although I'm not an Abbey customer and would therefore have the 3% BT fee, I did just phone Santander and ask if their terms and conditions allow the BT to put the other card (my Egg Money, in this case) into credit. I.e. does the BT explicitly require the other card to be in debt. They said that the other card does have to be in debt by whatever amount I want to BT, which seems to conflict with what folk have said in this thread, i.e. thousands in credit on their Egg Money.

Any thoughts?!?

Try it for yourself and see who's right

dk7

Ok - not stoozed for years (the days of easily obtained large credit limits, 0% BTs with no fees and 5%+ savings returns = easy profits, seem a long time ago!)

Anyway currently trying to get my hand on every penny possible as saving for a flat deposit.

I have a couple of questions.

1. I have a cahoot c/a. As cahoot are now owned by Santander does that qualify me for the 0% BT at no fee on the santander zero card?

2. I have an egg money card. Never used a mule previously - but understand i can put this in to positive balance and then transfer this to my c/a and on to a savings a/c. The only issue is the egg money card is my everyday use card due to the 1% cashback - will this be an issue?

3. Is it worth the hassle? I'm a 40% tax payer. The best instant access savings i can get is 2.8% or 1.68% after tax (ISA allowance used). If i got 5k limit, that would only earn me circa £80 over 12 months!

4. What sort of credit limit would i get? I'm a 40% tax payer and am in the process of closing down some unused credit cards leaving me with access to circa £16k of credit of which i use £2-3k regularly and pay in full each month.

CannyJock

dk7 wrote: »

1. I have a cahoot c/a. As cahoot are now owned by Santander does that qualify me for the 0% BT at no fee on the santander zero card?

2. I have an egg money card. Never used a mule previously - but understand i can put this in to positive balance and then transfer this to my c/a and on to a savings a/c. The only issue is the egg money card is my everyday use card due to the 1% cashback - will this be an issue?

3. Is it worth the hassle? I'm a 40% tax payer. The best instant access savings i can get is 2.8% or 1.68% after tax (ISA allowance used). If i got 5k limit, that would only earn me circa £80 over 12 months!

4. What sort of credit limit would i get? I'm a 40% tax payer and am in the process of closing down some unused credit cards leaving me with access to circa £16k of credit of which i use £2-3k regularly and pay in full each month.

1 - don't think so, only Santander and A&L branded accounts - and with A&L they seem to charge a fee and you need to get it refunded. No harm in checking with them though.

2 - not an issue, just be sure that whatever you transfer doesn't create a debit balance. So if you BT £5000 to it and your balance is £600 ish - then transfer £4000 to your current account and use the money you would have used to pay the card to add to your stooze pot - I'd try and keep a small credit balance just to be on the safe side.

3 - not able to save the money in partner's account to avoid paying 40% tax on your interest? Take a look at other accounts where you can get 5% on up to £2500 - you need to setup a few standing orders to bounce money in and out of the account to meet the minimum monthly funding requirements, but once set up it takes care of itself. Might also be regular savers that you can use to top up the interest rate on part of the stooze pot over time.

4 - no way of knowing, my average is about £10k. Most recent card was Santander Zero last month where I got £13k limit.

dk7

CannyJock wrote: »

1 - don't think so, only Santander and A&L branded accounts - and with A&L they seem to charge a fee and you need to get it refunded. No harm in checking with them though.

2 - not an issue, just be sure that whatever you transfer doesn't create a debit balance. So if you BT £5000 to it and your balance is £600 ish - then transfer £4000 to your current account and use the money you would have used to pay the card to add to your stooze pot - I'd try and keep a small credit balance just to be on the safe side.

3 - not able to save the money in partner's account to avoid paying 40% tax on your interest? Take a look at other accounts where you can get 5% on up to £2500 - you need to setup a few standing orders to bounce money in and out of the account to meet the minimum monthly funding requirements, but once set up it takes care of itself. Might also be regular savers that you can use to top up the interest rate on part of the stooze pot over time.

4 - no way of knowing, my average is about £10k. Most recent card was Santander Zero last month where I got £13k limit.

Thanks for the response.

1. Ok seems a A&L premier direct current a/c is needed - presume this is what you refer to in 3. ?

2. Just to clarify. When you say "just be sure that whatever you transfer doesn't create a debit balance" you mean after transferring the funds from my egg money card to my c/a, i ensure my egg money card has a positive balance? I presume if it goes into a negative balance they charge you a BT fee/cash advance fee?!

3. Unfortunately OH is non existent! A&L and santander c/a right?

cheers.