HSBC - 12 Months 0% BT

YorkshireBoy

HSBC have doubled the length of their 0% BT card duration to 12 months (but reduced the 0% on purchases duration to 3 months).

Key facts:

0% for 12 months on BT's actioned in the first 30 days.
2% uncapped BT fee.
0% for 3 months on purchases.
3% minimum payments.

Details at: http://www.hsbc.co.uk/1/2/personal/cards-home


Although applications can be made online, or via a freephone telephone number, those interested might want to consider applying in branch - following the poor customer service issues reported with the other methods this year.

pardal51

hi YB,do you reckon this card is any good for stoozers, considering 2% uncapped fee?

YorkshireBoy

Whilst nothing special, from a stoozing perspective, there is still profit to be had in a 4.75% AER savings account (according to my spreadsheet*)...

BT......gross....20%....40%
£10K....203......163....122
£7K.....142......114......85
£5K.....101........81......61
£3K.......61........49......36

However, as alexjohnson says, the results will be much better in an offset mortgage (and if it's still around in October I'll be going for it for this purpose).

Finally, you're not able to re-cycle the minimum payments with the new product - due to it only having 3 months 0% on purchases (and the revised 'order of payments'). Now if they'd decided to compete with GE Money (and their Transformation card with 0% on both), rather than MBNA, this would have been a much better card for stoozers.


* Disclaimer: Do your own sums!