&more 3.9% LOB alternatives

sdj25

If you weren't succesful in getting your &More card. You may be interested in the latest offer from Morgan Stanley:

http://www.morganstanleycard.co.uk/uk/data/card/platinum/plat.html

They offer 3.9%, not on the life of the balance - but for a hefty few years. More specifically, until 1st July 2010.

They do offer 3% cashback for the first few months, and 1% after that. but we all know the golden rule:
Don't spend on a BT card!!!!!!

SDJ

The_Boss

I've had my Morgan Stanley card for over 5 years and didnt get an introductory offer when I applied - I might have to ask them for this one as a sweetener to stop me cancelling.

JollyNolly

sdj25 wrote:

Don't spend on a BT card!!!!!!

Surely there's nothing wrong with spending on a BT card if it offers a matching 0% purchases period?

sdj25

JollyNolly (cool name btw!)

That's right, if they offer a 12month 0% then that's fine if you can pay off every penny of it before the 12months is up. People tend to use LOB cards to pay a debt off over a longer period than 12 months (people who do use LOB cards - correct me here if I am wrong).

The reason I stated don't purchase on a BT card - is if you had 18months at 0% balance transfer, and you transfered £1500 on to it. If you then purchased something for, say, £100 - you would have to pay off the £1500 before you even touched the £100. If the purchase (retail) APR was set at 15.9%, that interest would pile onto your £100 until your BT was paid off.

Another golden rule: Never use your card for a Cash Transaction (as in, never draw out from an ATM! - they usually charge up to 28.9% apr!!!)

sdj25

Just found something interesting about this (it pays to read the small print)

Balance Transfers made during the promotional period will be subject to a handling fee of 1% per Balance Transfer (minimum £3, maximum £50).

That's the cheapest on the market (well, barring the zero fees!) lol