We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Risk Taking A 0% APR Credit Card
Kimberley
Posts: 14,871 Forumite
in Credit cards
Someone told me they got stung when taking out one of these cards because the company withdrawal the offer quickly, how likely is that to happen?
0
Comments
-
He said he swapped to a Virgin card and it turned out to be a MBNA run card, he said he got rinsed out in charges x0
-
What you are saying is meaningless except that Virgin card indeed is MBNA. What 'charges'?0
-
Someone told me they got stung when taking out one of these cards because the company withdrawal the offer quickly, how likely is that to happen?
The bank will stick to their part of the deal as long as the customer has stuck to his/her part. That means. you must pay at least the minimum without fail and on time and never exceed your credit limit. As it was you who has broken the agreement, the CC is no longer bound by it and can (and frequently will) cancel the promotional deal.
You might want to ask your friend, why the deal was cancelled. There was a reason for it: the CC will not cancel the deal without the customer breaking it first.0 -
No, I haven't broken the agreement. I pay £250 a month on top of the minimum payment on the Natwest 0% for 24 months. I was just wondering if they can pull the offer at all during the 0% period.0
-
No, I haven't broken the agreement. I pay £250 a month on top of the minimum payment on the Natwest 0% for 24 months. I was just wondering if they can pull the offer at all during the 0% period.
As explained, they can but, basically, only if you miss a payment, don't pay at least the minimum, pay late or exceed your credit limit. From what you've said, you'll be fine
0 -
He said he swapped to a Virgin card and it turned out to be a MBNA run card, he said he got rinsed out in charges x
A bit of a shot in the dark - but was it that he already had an MBNA card and he got a Virgin card hoping to do a 0% balance transfer?
(And because MBNA wouldn't do a balance transfer to another MBNA card, he ended up paying lots of interest on his original MBNA card?)0 -
Most providers wont allow you to transfer a balance between the cards offered by the same company, this is explained in the T+C'S0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards