Barclaycard Gold rejection - Why?

getyourgun

Don't be fooled by 0% interest you are going to pay in the end. They are not out to do you any favours. Its like a free lunch. It does not exist. Do ever borrow more than you could pay back immediately. If you read the small print they can change the terms and conditions over night.

rainbow_carnage

getyourgun wrote: »

Don't be fooled by 0% interest you are going to pay in the end. They are not out to do you any favours. Its like a free lunch. It does not exist. Do ever borrow more than you could pay back immediately. If you read the small print they can change the terms and conditions over night.

I'm sorry, but that's just not true. I've had a number of 0% credit cards over the years that didn't cost me a penny. I've never had a card where the APR went up arbitrarily. The T&C are pretty straightforward. If you miss a payment, the promotional offer becomes invalid and you end up paying 19% APR, or something ridiculous like that. So don't miss any payments. Set up a DD for the minimum amount, and you should be fine. Keep an eye on the bills so you don't miss the end of the introductory period.

Credit cards are brilliant, as long as you use them properly. The bank makes money off the people who can't read or follow the not-so-fine print.

This is the first time I've had to pay to transfer a balance. It's a bit annoying, but 3% isn't too bad to postpone repayment by another nine months. There are better deals out there, but this way I didn't have to take out another card. And it still beats paying the regular APR.

BugsyBrowne

Rainbow- Carnage
To cut along story short if you went up your local pub and someone asked to borrow £50 off you don't matter if you know them or not,you might think do i or don't i,then the person who asked you for the money then pull £2000 of £50 notes out of his pocket,you would then think p!ss him off why would he want to borrow £50 off me when he has all that money..

no_more_cards_for_me

rainbow_carnage wrote: »

So don't miss any payments. Set up a DD for the minimum amount, and you should be fine. Keep an eye on the bills so you don't miss the end of the introductory period.

Credit cards are brilliant, as long as you use them properly. The bank makes money off the people who can't read or follow the not-so-fine print.

If only more people were to use cards like this, half the posts on the board would disappear.

Nicely put RC.

:beer:

no_more_cards_for_me

star-fire wrote: »

Rainbow- Carnage
To cut along story short if you went up your local pub and someone asked to borrow £50 off you don't matter if you know them or not,you might think do i or don't i,then the person who asked you for the money then pull £2000 of £50 notes out of his pocket,you would then think p!ss him off why would he want to borrow £50 off me when he has all that money..

Where is this pub :rotfl:

Typhoon2000

rainbow_carnage wrote: »

I'm sorry, but that's just not true. I've had a number of 0% credit cards over the years that didn't cost me a penny. I've never had a card where the APR went up arbitrarily. The T&C are pretty straightforward. If you miss a payment, the promotional offer becomes invalid and you end up paying 19% APR, or something ridiculous like that. So don't miss any payments. Set up a DD for the minimum amount, and you should be fine. Keep an eye on the bills so you don't miss the end of the introductory period.

Credit cards are brilliant, as long as you use them properly. The bank makes money off the people who can't read or follow the not-so-fine print.

This is the first time I've had to pay to transfer a balance. It's a bit annoying, but 3% isn't too bad to postpone repayment by another nine months. There are better deals out there, but this way I didn't have to take out another card. And it still beats paying the regular APR.

All true, but this time, unless you get approved for another 0% card inside a month, they are going to start making money off you, as your have mentioned you dont have the money to pay it off.

BugsyBrowne

no_more_cards_for_me wrote: »

Where is this pub :rotfl:

Next door to the bank..:)

rainbow_carnage

Typhoon2000 wrote: »

All true, but this time, unless you get approved for another 0% card inside a month, they are going to start making money off you, as your have mentioned you dont have the money to pay it off.

As I said, the problem solved itself. I transfered £3k onto the Halifax card at 0% for nine months. No need to apply for another card. I can pay off the rest next month.

So it's not exactly free money, but it's a very cheap loan. Between the MBNA card and the Halifax card, I'm borrowing £3k for 19 months for a grand total of £90 in fees.