Natwest Balance Tranfer Charging Interest on Purchases

Alonso14

Hi,

I took out a 24 month 0% balance transfer credit card a year ago - I think it also came with 0% on purchases for 6 months.

I am now being charged interest on purchases, even though I am paying them off in full each month, because apparently the T&Cs state that I will be charged interest on purchases unless the full balance is paid off each month (i.e. including the 0% balance transfer amount).

Is this normal?

Thanks

bsms1147

Yes. The Golden Rule is that you never spend on a balance transfer card.

20aday

It is indeed normal.

I made that mistake last year on my Asda credit card.

eskbanker

Yes, http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards warns about this in number 3 of the five 'need-to-knows' about BTs.

Alonso14

Thanks for the reply. So does that mean I will now be paying monthly interest until i have cleared the whole credit card?

msallen

Alonso14 wrote: »

Thanks for the reply. So does that mean I will now be paying monthly interest until i have cleared the whole credit card?

Only if you continue to spend on it. Stop using it for new transactions (use another card instead) and any residual interest will be clear within a couple of months.