What should I do with this BT offer?

gax23

Hi all,

Have just been offered a 12 month 0% deal on my AA credit card, currently unused with a £7800 limit. It's a 4% fee, minimum £3.

I've no interest bearing CC debts (have approx £12k on interest free, ends next September) — just the mortgage. I've never stoozed before, so would it be a good idea? If so, how can I make the most money out of this?

ISA this year is almost untouched (around £300 put in so far) but opened this financial year.

Thanks!

gax23

Might be worth adding that my mortgage is with Scottish Widows, and has an offset savings account available.

MallyGirl

what interest rate - it has to be more than the 4% fee to be worth doing

ermine

gax23 wrote: »

What should I do with this BT offer?

The round filing cabinet at the end of your desk marked waste paper bin. Perhaps via the shredder first.

I get loads of these. Barclaycard offers me this regularly - 0% with a 2.9% handling fee

What these lying sacks of !!!!!! don't realise is I wasn't born yesterday, not am I as stupid as their typical customers must be.


a 0% APR loan with a 2.9% handling fee is a 2.9% APR loan!

Move along, nothing new to see here...

adindas

ermine wrote: »

The round filing cabinet at the end of your desk marked waste paper bin. Perhaps via the shredder first.

I get loads of these. Barclaycard offers me this regularly - 0% with a 2.9% handling fee

What these lying sacks of !!!!!! don't realise is I wasn't born yesterday, not am I as stupid as their typical customers must be.


a 0% APR loan with a 2.9% handling fee is a 2.9% APR loan!

Move along, nothing new to see here...

Well, it might be not for your but think about people who need to borrow money with 10% interest.

Also if you could get net interest saving of over 2.99% where you could put aside this money, and clear the balance when the interest start materializing then it will be worthy. For instance, Nationwide ISA pay 4.25% net interest until October 2013.

YorkshireBoy

adindas wrote: »

Also if you could get net interest saving of over 2.99% where you could put aside this money, and clear the balance when the interest start materializing then it will be worthy.

You're forgetting the impact those hefty 2.25% minimum payments will have.

You'll need a net return of 3.3% just to make £1.20 profit over the year on a £10K transfer!


http://www.stoozing.com/calculator/stoozcalc.php