NEW Capital One 0% BT on 18 & 15 months !!

koru

DebtEverest wrote:

I suppose there is nothing stopping you doing a BT of whatever your limit is to a clear egg card and then you can do a SBT from there to your current account.

But you are still limited by the amount outstanding on your egg card. If this is less than your new Cap 1 credit limit, you will have to do two BTs to use the full limit.

Some SBT cards only waive the BT fee for BTs soon after the card is set up. If you have had an egg card for a few months, does egg charge a fee for a new SBT?

However the fees were at the BT interest rate of 2.9%, so in Capital One's case the fees would be at 0%????
Need to study the T&Cs to be sure.

I have studied the T&Cs. They only state the interest rate for BTs, purchases and cash withdrawals. Those three terms are all defined in the T&Cs, and don't seem to include a BT handling fee. So, I don't think the T&Cs tell us. I'll ask Cap 1 when I set up the card.

koru

One flaw is that the minimum payment is 3% per month. By the end of 18 months, you will have repaid 54% of the BT.

edit: Still, if you start with a £25k BT, your average stoozed amount will be £19,250. Invested at 5%, you should earn £962 gross interest, or £862 net of two BT handling fees.

Silent_Bob_3

Well there must be a Midlands bias going on as I've tried all the mags listed (and more) in every newsagents in Birmingham City centre and my local Asda/Sainsburys/Morrisons/WHSmiths and Woolies with no luck at all. :mad:

However a big thankyou goes out to Roaming Rhino who will be sending me one of his spare forms. Big thankyou to Rhino. :j:beer::j

floggit

Silent_Bob wrote:

Well there must be a Midlands bias going on as I've tried all the mags listed (and more) in every newsagents in Birmingham City centre and my local Asda/Sainsburys/Morrisons/WHSmiths and Woolies with no luck at all. :mad:

However a big thankyou goes out to Roaming Rhino who will be sending me one of his spare forms. Big thankyou to Rhino. :j:beer::j

I've also tried Derby and Loughborough, Sainsburys, WHSmiths Woolies etc. Best I could find was 12months!

zcaprd7

koru wrote:

One flaw is that the minimum payment is 3% per month. By the end of 18 months, you will have repaid 54% of the BT.

edit: Still, if you start with a £25k BT, your average stoozed amount will be £19,250. Invested at 5%, you should earn £962 gross interest, or £862 net of two BT handling fees.

Not quite, the 3% gets smaller as the amount owed decreases...

koru

True. And they probably don't let you BT 100% of your credit limit. But it is in the order of £900 benefit - not bad.

ashmit

I have a spare 15 month leaflet if anyone wants one. PM me as I don't log in very often and might miss requests on this thread.

Eta: gone now, sorry.

dealseeker

koru wrote:

One flaw is that the minimum payment is 3% per month. By the end of 18 months, you will have repaid 54% of the BT.

edit: Still, if you start with a £25k BT, your average stoozed amount will be £19,250. Invested at 5%, you should earn £962 gross interest, or £862 net of two BT handling fees.

£25,000 credit ... per T&C they will transfer all up to £100 of your limit so £24,900 transferred.

3% repayment on decreasing balance leads to approx. 60% of the original credit remaining at end of term.

For 5% gross interest per annum would be £973. (Average balance £19,461 over the 18 month term).

18 months => 18/12 * £973 = £1,460 before tax and BT handling fees.

Other credit limits
£5,000 => £287 gross interest
£10,000 => £580 gross interest
£15,000 => £873 gross interest
£20,000 => £1,166 gross interest

Obviously the impact of BT fees (£50 if over £2,500 or 2% for lower sums) is proportionately higher for lower sums transferred.

.... just wish I could get a £25,000 limit

bwatt00

I would not mind someone sending me a 15 or 18 month leaflet for this card as i have only come across 6 months with mags i buy.
Pm me.

I already have this card from a few years ago with low limit and never used would i best cancel it before taking up the new offer if someone has the leaflet to send me. I could be done with this as none of my current cards are on 0% at this time and this could save me heaps.

DebtEverest

koru wrote:

Some SBT cards only waive the BT fee for BTs soon after the card is set up. If you have had an egg card for a few months, does egg charge a fee for a new SBT?

If your egg card has a zero balance, and you do a BT from cap1, you put your egg card into credit. You can then do a SBT from egg to your current acc.

I have had my egg card for years, and am just coming to the end of my anniversary offer. So once that has been paid back and my balance is zero, I can then put the card into credit to do a no-fee SBT. The only fee you would pay is the Cap1 one.

I have never known egg to charge for BT/SBTs.