Credit Cards The Full Monty - Rate Changes

MSE_Martin

I hear there's an invite only offer from LLoyds TSB at the moment of 0% until Sept 2004. If you get offered it - grab it.

M_Thomson

Somebody has probably already mentioned this but Capital One are now doing 3.9% on all transfers done in the first 6 months for the life of the balance.

Snails_2

Could anyone recommend a good card to apply for 0% on purchases please?

Former_MSE_Moderator

Have a look at Martin's article 'Credit Card for Spending '.

System

Snails,

M Thomson mentioned this card in the previous reply to yours.

Capital One now offers 3.9 'life of balance', but the 'trick' with this card is that it also offers 0% on purchases only for the first 6 months, and a request for a balance transfer can be any time DURING the first 6 months.

This allows you to spend on the card 'for nothing' initially, making minimum payments only, but then pay off the FULL BALANCE just before the end of the 6 months. With a 'nil' balance on the account again, you can THEN ask for a 'life of balance' transfer on (I believe) your credit limit less £100!

[You could even clear the spending balance by one transfer from a different card, then simply get Captial One to transfer the same amount back to it!]

System

Lloyds are offering 0% on balance transfers and purchases until 01/09/2004. You have to apply for their advantage card through the Motley Fool website(https://www.fool.co.uk).

Watch out though; the card has no interest-free period after the initial offer so any purchases made on the card after the special offer has epxired will attract interest from the day of purchase until you pay off the card.

Tr@cker

Just had the 'nod' on the Capital One 3.9% life of balance transfer offer-but in the small print the word 'variable' appears.
Could this mean the interest rate might shoot up? Anybody?

Milarky

Tr@cker,

I believe that they keep the life-of-balance rate 'variable' so that they are allowed to increase it to the standard purchase rate if you breach the terms and conditions of the agreement (eg missing minimum payments). It says: "If you do not manage your account as we ask you to in your terms and conditions your risk may change which may lead to your balance transfers made in the first 6 months being charged at the standard variable purchase rate"

It should therefore be 'fixed' at 3.9 if you do nothing wrong.

M

System

Can you tell me where you found this out? If you have an offer code, that would be ideal. Thanks.

Justhad application forms sent to us re: this offer: 14.9% from then on: Promotional code:11/54 BIN552157

System

Hi Martin
I have just telephoned to ask about applying for a PCWorld Marbles card and have been told that they are not taking applications until March
sophia