Stupid Question Time - Balance Transfer Fee

Cmdr_Bond

I have just been accepted for the Barclay Card 17 month 0% balance transfer (3% transfer fee).

My question is 2-fold

Do they add the fee to the card or do you pay it up front.

If they add the fee to the card (so a £3000 bt gives a £3090 balance to pay off) - Do they charge interest on the fee or is that included in the rate for the bt?


Sorry if this is a daft question, but the last time I did a BT there was no fee.

2sides2everystory

The last time I did a BT with Barclaycard they discounted it by 2% so in your case on the deal I did, first statement showed a debt of £3,000 miraculously becoming £2,940 - them were the days - you try tellin' the young people o'today that, and they won't believe yer

(Just to put it in perspective, a free sixty quid in thosedays paid for a whole case of Chateau de Chasselet )

In your case you've guessed right, the debt immediately becomes £3,090 but it is a 0% interest deal so no interest on any of it for 17 months unless you foul up and breach the terms.

So then, Obadiah, if you're up for it, better start thinking how your going to make sure all your payments are on time, and then how you're going to pay it off before the interest rate lurches into something really stupid in July 2012 :money:

Cmdr_Bond

Thats easy.

I am currently paying 60/week. Base on 4 weeks/month, 1 year = 13 months so 17 months = 18 months.

3090 / 18 = ~172 / 4 = ~43 per week. 17 less than I pay now.

But I'd kill for 'ole in't road.