you know when all you lovely people give advice...

kathfisch

Pap, that's great news about the card! Be sure to ask them about the 0% balance transfer thing though, cos you don't want to miss out if it is available to you!

You have more questions?! The answer is yes, you should post them here!! Don't promise to know the answer to them mind you but we'll do our best!

Kath x

postingalwaysposting

thanks kath... the questions i have are... dont worry if you cant answer them

1) can i set up a direct debit to pay this off, my old card allowed this but will this one? not very good at cheques and stuff
2) if its 0% when does it start (its only for 6months) so say i get the card on the 1/3 will the 0% end on the 1/9?
3) if thats the case above will i need to make sure the money is payed before the end of the term? (so if the statement comes out on the 12th and it needs to be payed by 16th but the 0% ends on the 13th will it need paying before the 13th?)
4) if its 13.9% would you still split the payments by 6 months?
5) will the company mind me exploting them and then closing the account after the 0% is over or its all payed (whichever comes first)?

thanks for all the help so far and whatever here on in

kathfisch

postingalwaysposting wrote:

thanks kath... the questions i have are... dont worry if you cant answer them

1) can i set up a direct debit to pay this off, my old card allowed this but will this one? not very good at cheques and stuff Yes, all cards that I know of allow a direct debit. There might only be 'whole balance' or 'minimum payment' options on the forms but Martin says to phone them and insist on a specific amount if that's what you want - they can do it.
2) if its 0% when does it start (its only for 6months) so say i get the card on the 1/3 will the 0% end on the 1/9? not sure but I assume the 0% will start when they transfer the balance (i.e. when they pay the money to your other account). Not sure if it would be 6 months exactly, or perhaps 6 statements, best to ask them to be sure.
3) if thats the case above will i need to make sure the money is payed before the end of the term? (so if the statement comes out on the 12th and it needs to be payed by 16th but the 0% ends on the 13th will it need paying before the 13th?) as above, not totally sure so best ask them!
4) if its 13.9% would you still split the payments by 6 months? Tricky one! It sounds as though you do need to cut yourself a bit of slack, so don't make the payments more than you can afford. If there is interest being added then obviously the total paid will be a bit higher so you need to allow for this.
5) will the company mind me exploting them and then closing the account after the 0% is over or its all payed (whichever comes first)? That's what we moneysavers do! They know that some customers will only take advantage of the offer, but they count on the fact that many won't, or will forget to pay it off when the higher interest rate kicks in. Or that they'll add to the debt on the card and not be able to pay it off. But that's not how we do things on dfw, is it?!

thanks for all the help so far and whatever here on in

Hope some of that helps!! A quick phone call will clear up the details, you don't want to be caught out!

Kath

postingalwaysposting

thanks kath that has helped loads... i will wait till i get all the welcome leaflets and read through that and have a look then if i am unsure i will phone them thansk again hun

kathfisch

postingalwaysposting wrote:

thanks kath that has helped loads... i will wait till i get all the welcome leaflets and read through that and have a look then if i am unsure i will phone them thansk again hun

No probs hun, that's what we're here for!!

x

postingalwaysposting

kathfisch wrote:

No probs hun, that's what we're here for!!

x

yep and all of you and this site are teaching me everything my father and mother couldnt... thanks

SunderlandBlackCat

Hi PAP

1) can i set up a direct debit to pay this off, my old card allowed this but will this one? not very good at cheques and stuff I've never heard of a card where you couldn't.
If they insist on only minimum payments or full balance choose the minimum payments option then set up a savings account (via quidco of course) to pay the rest of the money into. Once the 6 months is up you can withdraw the amount left on the card & pay it off & pocket the interest you've made.
Alternatively you could for get about the direct debits your bank should be able to set up a standng order for 6 regular payments.
2) if its 0% when does it start (its only for 6months) so say i get the card on the 1/3 will the 0% end on the 1/9?
Should be from the date they send payment to the other card but check the cards Terms & Conditions.
3) if thats the case above will i need to make sure the money is payed before the end of the term? (so if the statement comes out on the 12th and it needs to be payed by 16th but the 0% ends on the 13th will it need paying before the 13th?)
You should allow 3-5 days for the payment to clear so ideally in that situation the payment should be sent on the 8th
4) if its 13.9% would you still split the payments by 6 months?
If you can but remember with the interest the amount to pay will be a bit more than 1/6th of the balance transfer+transfer fee. Better to take an extra month or two if thats going to be a struggle
5) will the company mind me exploting them and then closing the account after the 0% is over or its all payed (whichever comes first)?
Unlikely but if they do mind thats their problem not yours

Hope this helps

tesuhoha

Hi Posting,

I am so pleased you got the card :beer:. However, I would phone them up now and say 'You were advertising a 6 month 0% introductory rate when I applied for this card. Can I just confirm that I'm going to receive this.' If they say no, then ask why not. I have done that a couple of times before though when it said nothing about the introductory rate on the correspondence and they have always said yes. As for paying it off, if you have internet banking you can set up a standing order yourself and then you have control over it if you really cant afford it one month. But try to avoid missing any payments. If not, you have to arrange it with them. The way to pay it off is to make 6 payments altogether and you start with the first statement. So once you receive the first statement you arrange the first payment for the date it is due and then the other 5 will follow month after month and that will pay it off. I am sure you must have the 0% deal as you applied on line for what they were advertising. Thanks Imelda by the way, I will post at some time to tell of my progress. Its got a bit complicated lately but basically my target is to keep all our debt at 0% for 3 years on the credit cards and pay £500 off a month as if it were a 3 year loan. At the same time my OH is shortly going to submit plans for the house and he is going to do it all himself bit by bit and each stage is going to be done as we can afford it because any spare money after the debt payments will go into the house fund. We probably ought to try to pay the debt off sooner but we cant stand living like this anymore. The house is very cold and is a mess and we've got no quality of life because we spend no money whatsoever on anything. We never go out. I just want to feel human again but at the same time I am absolutely determined to pay those £500 payments each month so that we reach our debtfree target in 3 years time. Sorry to hijack your thread Posting. Love Tes xxxxx

tesuhoha

Oh and by the way Posting dont worry about upsetting the company. They make millions of pounds exploiting people like you so it makes a change for the customer to try to get a little bit back. They are not going to take it personally anyway. Lots of people do tarting and they do it to make a profit sometimes. You are doing it to pay off debt and you have paid enough interest to cc companies already so if you can get something for nothing, then take it.

postingalwaysposting

aww thanks tes that was jammed packed with info... i will wait for all the leaflets to come trough then phone up about the 0% if it isnt in there but its great and thanks for pushing me to do it oh and dont worry about hijacking my thread i have been looking back at your posts this week anyway to see how you have been doing hope you dont mind :rolleyes: