Only 12 Month 0% Balance Transfer Card Being Ditched?

shrek101

Just got my letter from Lloyd's TSB to sign before getting the card. As my Barclaycard card will charge interest at the beginning of next month I hope I still have time without incurring interest rate for a BT from Barclaycard to Lloyds TSB advance card

Thanks Martin for the tip it will save me some money

english-setter

I filled in all the information online and submitted it, but then noticed Martin had a warning about something 'nasty' - something about having to pay interest if you paid off the whole balance. Before I return the paperwork duly signed, does anyone know what this is all about? I don't want to get caught up in something I can't get out of without paying interest. thanks y'all

shrek101

I didnt know there was some clause. Can anyone shed more light on this.

MSE_Martin

WHy MBNA - its explained in the new article (goign up on monday) well you'll see in the article on Sunday - but Virgin etc don't have a balance transfer fee on the initial balance transfer - only on existing customer balance transfers

martin

shrek101

Martin can you please tell me if there is some clause with the Lloyds Advantaged card as what english-setter (poster above) said "Martin had a warning about something 'nasty' - something about having to pay interest if you paid off the whole balance"

I cant find anything either in the terms and conditions or on this site so far. Might have to get my fine toothed comb out

Cheers

MSE_Martin

The LTSB Advance card doesn't have an interest free period on purchases. Most cards state 56 days interest free.

THis is technical - but it means even 'if you pay off in full' after spending on the card. YOU WILL PAY INTEREST.

However if you are only using this card for balance transfers and never spendin gon it (which you shouldn't be any way for lots of reasons, see the article) then it isn't a problem.

shrek101

Thanks Martin I will check the article

redgewd

I was accepted for the Lloyds TSB Advance Card 12 months 0% about a week ago before the deal closed and was sent the credit agreement to sign. Does anyone know if this is still valid even though the offer is now not available. I was told I had a £6k limit but was hoping to BT £8k, so when I rang for my limit they told me to send the Credit Card statement of the the card I wish to BT the £8k from and they could possibly increase the limit. I'm now waiting for the statement to come which should be Monday but I'm now thinking have I lost out all because I wanted an extra £2k limit. Does anyone know if they still have to accept me. Thanks

english-setter

Thanks for sorting our my query about paying off the balance!

Am just off to read the article to find out why I shouldn't just use the card for balance transfers and nothing else. Not sure my poor little brain is up to all these convolutions...

Newbird

Noticed a new 0% offer on BTs and purchases until 11-05, in Tesco yesterday. Spend on it at Tesco and get 50% Clubcard points increase as well.

Worth looking at I thought.