First Direct 0% 6 Month Clarification

Rangdo

Just wondering if the wording on First Direct's 0% offer of 'transfer balances within 6 months of opening to get 0% for 6 months' means

a) at any time within 6 months of opening can get a full 6 months 0% on BT, so I open now but transfer in say 4 months, still get 0%

or

b) their wording's iffy and they mean transfer within 6 months and get x months remaining of initial 6 month opening period as 0%

I read it as 'a' but just wondering if anyone's got experience of this offer.

Cheers.

smartsaver

I understand it to mean you need to BT the money when you first get the card. Not sure if anyone has waited then done the BT. You could ring and ask but then their customer service advisors told me my 0% period ended 18th April. I have just recd a letter advising it ends 30 March.. I'd go for trhe BT as soon as you get the card to be safe..

gardnt1

hi,
i spoke to a first direct advisor re increasing limit, and she confirmed that you can transfer a balance anytime within the six months and the six months interest free starts at time of transfer So option (a) is the correct understanding.

Rangdo

I did ring them today and they confirmed I could transfer at any point for the 6 months 0% to begin, in which case it's a handy one to have ready

realaledrinker

The 6 months starts ticking once your first BT goes through. If you did another one 2 months later you would only get 4 months on that.

villaneme

And what about purchases? Is it also 0% for purchases?

Is it related to the balance transfer? Or it starts as soon as you have your card?

Rangdo

I don't know about purchases, mainly because I won't be using that part of it. Depending on the limit I get, it'll be full courtesy of either Egg or Virgin.

Caped_Avenger

villaneme wrote:

And what about purchases? Is it also 0% for purchases?

Is it related to the balance transfer? Or it starts as soon as you have your card?

It's 0% for BTs AND purchases, but you need to have done a qualifying* BT to 'trigger' the 0%, otherwise you'll be paying interest on purchases until the BT is actioned.

* = £500 or more to a non-fd card.

zcaprd7

Why bother using it for purchases?

Transfer the whole lot into your savings account (earning interest) spend what you would anyway (with a cashback card if possible) and pay it off in full each month from your savings pot...

villaneme

zcaprd7 wrote:

Why bother using it for purchases?

Transfer the whole lot into your savings account (earning interest) spend what you would anyway (with a cashback card if possible) and pay it off in full each month from your savings pot...

How could you do this with FIRST DIRECT?

stuwilky

villaneme wrote:

How could you do this with FIRST DIRECT?

By transferring it thorugh an account that lets you do SBT's. eg Egg.