Halifax Two-week 0% offer

peawack

My 0% offer expires in February, so I was surprised to get a 'don't let it get away ' letter encouraging me to do a BT. After about two weeks it would revert to 17.95% ! When you add the £30 charge per £1000 transferred, it adds up to a nice little earner for the Halifax !
How do they get away with this kind of skullduggery ? They know when my initial rate reverts to the high rate, and i know it is computer generated mail. but.....they should be more proffessional and show some integrity. Some unsuspecting folk will be taken in by this scam.
I have written to their customer sevices, but it is probably a futile gesture.

oldfella

a - they want to make a lot of money

b - they think we are stupid

Mike

Gordon_the_Moron

c - a lot of people are daft enough to do it

d - people don't read T&Cs and forget when the 0% runs out

e - it just might have been a genuine mistake

Da Moron

kuohu

Gordon_the_Moron wrote:

c - a lot of people are daft enough to do it

This could be reworded to say that a lot of people believe that the banks are working in the best interests of their customers, and that financial advice from a major high street name like the Halifax is correct and worthwhile. (And not a shady trick to try to get more money from us).

sashacat

I've had the same letter and rang them about it and they offered me 2.9% after the two weeks and I am considering it because I reckon I could make money on it if I put it in my ISA.

Robert_Sterling

A lot of people need a rerality check.

nomoneytoday

sashacat wrote:

I've had the same letter and rang them about it and they offered me 2.9% after the two weeks and I am considering it because I reckon I could make money on it if I put it in my ISA.

If there is a BT fee, it could tip the balance and making it less worthwhile stoozing against an ISA..

Almost_In_The_Black

Depending on how you worded your letter it's possible that they'll forward this to the team responsbile for such mailings to look into. If you've not done so would be worth asking them to investigate how you were offered this as it's clearly an error.

tom188

Bank in trying to make a profit from customer that was profiting from Bank shock.

peawack

Robert_Sterling wrote:

A lot of people need a rerality check.

Don't get ya ! Please explain

peawack

tom188 wrote:

Bank in trying to make a profit from customer that was profiting from Bank shock.

The initial offer was from the bank to the customer, and the offer was accepted. The customer pays fees up front for the privelige.
Not a case of the customer trying to profit from the bank.
Equally the customer knows that the rate would increase at a certain date,from when bank profits further,no problem so far.
Here's where it gets sneaky. The bank hopes that the customer is unaware that the rates are about to go up and he/she cranks up the debt at the higher rate, thus incurring more charges.