Hsbc Cc-5.9%

saverram

HI,
i recieved a letter from HSBC, i cana have my balance transfer at 5.9% for 6 months. and their is 2% as balance transfer fee.
first i thought it was a good deal, and thought i will transfer my balance to it. but when i thought again i will be charged 5.9+4%=9.9%.


so i will be paying 9.9% . So this is the catch?
or am i confusing too much.
any clarification is appreciated
Regards
Saverram

Milarky

Your sums seem about right. THat fee is 2% of whatever amount is borrowed - it is not capped - and over 6 months equates to an additional 4%. Given it is only for 6 months what use is this rate to you?