Santander Zero Card

navro18

Having taken out one of these 'free balance transfer and interest for 12 months' cards about 4 months ago, i learned today on seeing my statement that they will charge me interest on all new purchases after month 3 even if i pay off the purchase amounts. in effect this means that i pay interest on all purchases for the remaining 9 months until and unless i pay off all the balance transfer amount as well. they say this was in the t&c's but it certainly was not made clear in the marketing anywhere! anyone else fallen for this one?! i feel rather missold to ...

michael1983l

navro18 wrote: »

Having taken out one of these 'free balance transfer and interest for 12 months' cards about 4 months ago, i learned today on seeing my statement that they will charge me interest on all new purchases after month 3 even if i pay off the purchase amounts. in effect this means that i pay interest on all purchases for the remaining 9 months until and unless i pay off all the balance transfer amount as well. they say this was in the t&c's but it certainly was not made clear in the marketing anywhere! anyone else fallen for this one?! i feel rather missold to ...

Martin Lewis's article on BTs clearly states do not spend on them, not only that it is in your T&Cs and has had quite a lot of publicity in the press to the stage where I thought it was common knowlendge that the credit card companies always pay the lowest interest balance first. They are of course trying to get the rules changed but even so you have been a little naieve in not checking it out first.