Lloyds 15 Month Balance Transfer Card

antuk

Hi all,

Does anyone have the Lloyds 15 month 0% balance transfer card.

Im a little bit puzzled by the fee, the final page of the application stated that the fee was 3% (no mention of the rebate of fee on there) and also there was a £3 fee for each transfer, again there is no mention of this anywhere else and also that interest is charged on that fee - does this mean that even during the 15 months you will be incurring interest (albeit very small amounts)

Can anyone shed any light on this for me please?

Thanks,

[Deleted User]

It'll be 3% or a minimum of £3.

rolls99

You Won't (or shouldn't) pay interest on the fee.

Transfer say £1000, then your fee is £30 - this is added to your balance making £1030.

If you pay this on time (within the interest free period) there is no interest.

IF the fee DID accrue interest, you would almost certainly pay pennies since any payment you make has to pay the Highest (or any) interest bearing portion of the balance first: so, if you pay in £50 on your first payment, that would remove the interest (were it charged)