Mint 0% Balance transfer

mancitychick

Last month I transfered £3795 onto my Mint card. The customer service girl said that it will be 0% for 6 months but there is a 2% transfer fee to pay.

Got statement today and have been charged 65p interest. After speaking to Mint today they said that I am being charged interest at normal rate of 18.9%on the transfer fee. I was never told this when doing the transfer. They said that this is normal and they cannot do anything about it but if I am not happy with paying it they can reverse the transfer and send the money back to where it came from and then I won't be paying them any interest. I said no thanks to that! The guy said its only a few pence each month - I hate it when people say that, if it is ONLY a few pence then you won't mind not charging it will you.

I know I am saving a good bit more than 65p per month in interest I am just annoyed this was not made clear at time of transfer.

Rant over! Is it normal for interest to be charged on the transfer fee?

Jazzking

Unfortunately yes this is often the case. I've never seen it explicitly mentioned on the T&Cs but my partner's experienced it a few times and unfortunately there's not a lot you can do about it

mountainofdebt

mancitychick wrote:

Last month I transfered £3795 onto my Mint card. The customer service girl said that it will be 0% for 6 months but there is a 2% transfer fee to pay.

Got statement today and have been charged 65p interest. After speaking to Mint today they said that I am being charged interest at normal rate of 18.9%on the transfer fee. I was never told this when doing the transfer. They said that this is normal and they cannot do anything about it but if I am not happy with paying it they can reverse the transfer and send the money back to where it came from and then I won't be paying them any interest. I said no thanks to that! The guy said its only a few pence each month - I hate it when people say that, if it is ONLY a few pence then you won't mind not charging it will you.

I know I am saving a good bit more than 65p per month in interest I am just annoyed this was not made clear at time of transfer.

Rant over! Is it normal for interest to be charged on the transfer fee?

I've just had a look at hubby's MINT statements and he was charged a £49 fee to transfer his balance but since then he's paid no interest. Personally I think the girl has got it wrong and it would be worth phoning MINT up again and speaking to someone else.

Paul_Herring

It's more likely to be a case of Mint following Egg's lead in this regard - treating the fee as a purchse.

robin

Hello

My partner has a MINT card and was charged a transfer fee but has not been charged interest on that or purchases that have been made. he has had the card for about 3 months now. I think you should ring them back!

mancitychick

Paul_Herring wrote:

It's more likely to be a case of Mint following Egg's lead in this regard - treating the fee as a purchse.

I think you might be right here as on my statement the fee is under purchases on the summary page.

Bothered!

My other half applied a while back for Mint card and was told 0% balance transfer with a 2% handling fee capped at £49.

When his first statement came in it was 0% but balance transfer fee was not capped and for 6K it cost £120.

He phoned and complained, and complained but to no avail. Ripped off!!

Moggles_2

The guy said its only a few pence each month

It may be a modest charge, but you were entitled to this information before you requested the balance transfer.

My other half applied for Mint card and was told 0% balance transfer with a 2% handling fee capped at £49. When his first statement came ... the balance transfer fee was not capped and for 6K it cost £120.

In both cases, it's definitely worth ringing back to speak to someone else. You can avoid the wretched 0870 number by phoning 01702 351155. It pays to have your credit agreement handy too.

Last month, I was given wrong advice over the phone concerning cheques and money transfers. When I pointed out the terms & conditions didn't tally, the decision was reversed.

Personally, I think Mint has so many different deals running in tandem now, staff are totally confused.