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LTSB CC Cheques
JollyNolly
Posts: 375 Forumite
Am I missing something? I've just received some LTSB credit card cheques, offering 0% for 6 months. My credit limit is £12000. I assume my best option is to write a cheque for the full amount and pay it into a savings account for 6 months. But which savings account to use? Or even into my Woolwich offset mortgage??
£2 coin savers club: £1.49
Official DFW Nerd Club: Member no. 047
Official DFW Nerd Club: Member no. 047
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Comments
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Don't forget there is a 2.5% bt fee, so for £12000 thats £300. i.e. 5% pa.
Can you get a better savings rate than 5% after tax? If not, don't do it.0 -
oh, and also, the fee of £300 would attract full interest for the entire length of the BT too!0
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Thanks HS. Yes, I can, but only just. Really makes it not worthwhile. Rats. It was worth a thought. Are these cheques any use at all?£2 coin savers club: £1.49
Official DFW Nerd Club: Member no. 0470 -
Happy_Shrimper wrote:oh, and also, the fee of £300 would attract full interest for the entire length of the BT too!
Ouch!!!!!!£2 coin savers club: £1.49
Official DFW Nerd Club: Member no. 0470 -
No, such cheques are not a good way to stooz, due to the BT fee!Money is not the root of all evil - Money-wasting is!;)0
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I always phone up and ask for these cheques NOT to be sent to me.
I would never use them and I consider that they are a security risk.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
You're right....as always GG!Money is not the root of all evil - Money-wasting is!;)0
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Maybe I should sort myself out with an Egg Money card??£2 coin savers club: £1.49
Official DFW Nerd Club: Member no. 0470 -
Do you have a hamster? If so, shred them and use them for bedding.JollyNolly wrote:Are these cheques any use at all?Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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