Tsb platinum credit card

lemontree

My Partner has been offered a TSB Platinum Card with no interest charged for 13 months.
He has a Halifax Clarity Card which he pays in full each month.
He needs only short term interest free payments.
Seems too good to be true!
Has anyone had this card?
Thank you.

grumbler

What seems to be too good to be true?

>> 0% on Purchases cards

Paully232000

Yes i have had that deal which has ended now. Still have the card as well.
What is too good to be true?

lemontree

Sorry,just not used to Credit Cards.
The Halifax Clarity was taken out for a trip to Atlanta as no interest charged on purchases abroad.
Thought there might be a hidden fee but feel reassured!!!
Thank you again.

grumbler

lemontree wrote: »

Sorry,just not used to Credit Cards.

Indeed you are not.

The Halifax Clarity was taken out for a trip to Atlanta as no interest charged on purchases abroad.

The main features of this card are no loading on currency exchange and no fee on ATM withdrawals, not 'no interest'.

lemontree

Thank you Grumbler, we knew about the Exchange Rate but we were told by a Halifax Cashier that we would be charged for any ATM withdrawals so thank you for this info!

Paully232000

lemontree wrote: »

Sorry,just not used to Credit Cards.
The Halifax Clarity was taken out for a trip to Atlanta as no interest charged on purchases abroad.
Thought there might be a hidden fee but feel reassured!!!
Thank you again.

Just looked at Lloyds website and found this which is better than the deal you have been offered.
http://www.lloydstsb.com/credit-cards.asp?WT.ac=SNCC1012

21 months interest free, and 1.5% BT fee.
or they have a 15month one with a 1% fee.

grumbler

Why do you think that for the OP 21/15 months 0% on balance transfers with a fee is better than 13 months 0% on purchases? It's wrong to assume that all people have CC balances to transfer.

And, BTW, Tesco's 12 months 0% without fee is better than 15 months with 1% fee.

lemontree

Just reading paperwork collected today.
I do not understand the following:
It has an agreed limit and only charges interest when you use it.
It offers an interest free period on purchases when the full balance is paid on time each month.
Seems to contradict 13 months 0% interest.
Surely no interest is charged on any card when it is paid in full each month.

zerog

lemontree wrote: »

Just reading paperwork collected today.
I do not understand the following:
It has an agreed limit and only charges interest when you use it.
It offers an interest free period on purchases when the full balance is paid on time each month.
Seems to contradict 13 months 0% interest.
Surely no interest is charged on any card when it is paid in full each month.

All cards have an interest free period if paid in full. If he pays it in full every month, there will be no interest.

To use the 13 month 0% offer, he will not be paying in full, he should pay the minimum payment for 12 months, and then pay off the entire balance before the 13th month ends.

As he is not paying in full, he will be charged interest for those 12 months. The interest rate will be 0%, therefore he will be charged £0.00 of interest. After 13 months, the rate will revert to whatever it is, maybe 19%, and if he hasn't paid it off in full before then (whihc would be shortly after the 12th statement is received), then some interest will become payable.

guesswho2000

zerog wrote: »

All cards have an interest free period if paid in full. If he pays it in full every month, there will be no interest.

Not all, the Lloyds TSB Advance, to name one, has zero days interest free, even if paid in full.

Granted, though, the majority do have the aforementioned interest free period (I thought it relevant, as OP has a LTSB card, albeit not the Advance).