Santander Zero Credit Card 0% BT

Gizmo247

Anyone else been offered this on their old Zero Credit Card?

I'm not interested in taking them up on the offer but it seemed strange that I've never been offered 0% BT before and the Zero card is no longer available?

I wonder whether they got confused with my new 123 card and offered it on the wrong card by mistake.

Alternatively they could be testing card holders and ditch ones which do not take up the offer, possibly triggered by the 123 card application.

UnionGirl

Don't think it's a mistake cos I've been offered it too.

guesswho2000

Gizmo247 wrote: »

Anyone else been offered this on their old Zero Credit Card?

I'm not interested in taking them up on the offer but it seemed strange that I've never been offered 0% BT before and the Zero card is no longer available?

I wonder whether they got confused with my new 123 card and offered it on the wrong card by mistake.

Alternatively they could be testing card holders and ditch ones which do not take up the offer, possibly triggered by the 123 card application.

I doubt it, they'll be trying to encourage you to use it again so they can make some money off the balance transfer fee.

If you don't use it at all, consider making a small transaction on it once in a while to keep the account active, the zero card is one of the best credit cards you can have if you ever travel abroad.

zerog

How was this offered? If the fee is low it might be worthwhile..though it means I can't use it for cash withdrawals

Gizmo247

I wasn't aware of it until the told me the offer period was running out, perhaps it appeared on that "and finally" extra sheet at the end of the paper statement.

I always put 2 or 3 low value transactions on the card a month to keep it ticking over, not too much otherwise it will affect cashback elsewhere. Probably only really use the card once or twice a year for foreign purchases.

a&akay

I've now been offered this twice. Took it up for cash flow reasons on the first offer at 3% fee and was then offered a second one 2 month's later, which seemingly hadn't recognised this.

chattychappy

Yes, I get them too (whether or not I have a balance). Usually 0% for 12 months, 3% fee.

jpwjpw

I get them every couple of months. Don't usually take them up as it would negate the massive savings on currency when i use it

chattychappy

jpwjpw wrote: »

I get them every couple of months. Don't usually take them up as it would negate the massive savings on currency when i use it

I know what you mean, but it can actually work out good value to mix them - you may indeed pay more for the cash but in return you get better value from the BT. When running a BT on Zero, I still put my cash withdrawals there (putting purchases on PO or Select).

With Zero, when running a BT balance, I get the cash out just before the statement is generated and then pay the greater of the minimum and amount of the cash withdrawal just after generation. You can actually extract better value out of the BT this way, because effectively you are reducing your minimum repayment on the BT to zero. The repayment is steered towards the cash transaction and you are running your 0% balance higher for longer. Granted, not everyone can time their cash withdrawals in that way - but even if you take the cash out earlier in the month, the cash interest for a couple of weeks is still reasonable value for the extension in BT it gives you (depending how much time you have left on the BT).

Eg Assume APR 34.8% on cash (my rate). Take cash out in the middle of the month. Delay paying it back until after statement generation (to ensure it is applied properly). Cost - about 1.25%. Now this repayment counts against the minimum payment - so instead of paying down your BT you are maintaining at a higher level for the cost of 1.25%. Well if, say, you have 6 months left on your BT, that's good value - 1.25% for 6 months. Afterall, you probably paid 3% in the first place for no more than a year.