When 0% isn't 0% - yorkshire mastercard

splatt30

Yorkshire Boy - you're right, I guess I forget that not everyone is stoozing against an offset, which was fixed 2 years ago (for 5 years) at 5.98%!
Kingweasel - I'd get on the phone again with the T&Cs in front of you to get to the bottom of what will be paid off first, because if Cannyjock is right you won't be paying any interest on that fee anyway

CannyJock

King_Weasel wrote: »

but you only discover the snag I mentioned when you actually ring to arrange the BT

There is no snag See above.

YorkshireBoy

splatt30 wrote: »

Yorkshire Boy - you're right, I guess I forget that not everyone is stoozing against an offset, which was fixed 2 years ago (for 5 years) at 5.98%!

Mine's BOE + 0.75%, but with a 3% BOE collar on it meaning it's 3.75%.

Even if I wasn't 100% offset with my own money I don't think I'd bother with this one, with a 3% fee for 16 months (effectively 15 months after delays etc).

My (£21K) stooz pot currently resides in 3 LTSB Vantage accounts and is made up of an A&L O/D, Santander Zero fee-free muled through Egg Money, and a little slow-stoozing. It's difficult to see how I can increase this significantly, and profitably, in the foreseeable future.

owitemisermusa

Sorry to go off point, but for rate-for-life cards such as MBNA 5.9% (+1.5% fee), am I to assume that it won't matter as the entire balance is charged at 5.9%?

Paul_Herring

Depends on whether a fee is charged, and if it is, what rate it's charged at.

owitemisermusa

Paul_Herring wrote: »

Depends on whether a fee is charged, and if it is, what rate it's charged at.

1.5% fee. I see no mention of how they will treat the fee in their T&Cs.
Just thought that if it's all 5.9% then there's no need to bother as that's the max you'll get charged anyway.

Paul_Herring

Or you might get charged (say) 21% on the fee. And the fee will be paid off last. Ring them up.

badger247

vvvvvvvvvvvv

YorkshireBoy

owitemisermusa wrote: »

I see no mention of how they will treat the fee in their t&cs.

mbna_t&cs wrote:

2d

we will charge interest on...handling fees...at the interest rate which applies to the relevant transaction...

The relevant transaction being, in your case, a 5.9% APR LOB transfer.

..........

owitemisermusa

^^^^^

YB, muchas gracias!!