Asda Credit Card

ParkerFive

Hi
I got a credit card from Asda with a 0% for 12 months balance transfer £850. When I received the card I purchased some shopping. I have now received my statement and the balance transfer is no longer at 0% but up to the card purchase rate. Is this usual? Asda say it puts all the balance together if you spend on the card and to get the 0% there must be no other amount. I didn't think this would be the case as the card says 0% for 12 months!!

thebritishbloke

You'll have to check the T&C's of your card, but it does sound unusual.

The only thing I could find on their website about it was this:

**Credit Card Balance Transfer Terms and Conditions: Balance Transfer fee of 2.9% (minimum fee £3 per transaction) will be charged in respect of each Balance Transfer. Subject to account status. Account Terms and Conditions apply. You can Balance Transfer up to 80% of the available credit limit within the first 90 days of account opening. Balance Transfer Credit Cards from existing storecard accounts and loans issued by Creation Financial Services Ltd or Creation Consumer Finance Ltd and credit card accounts issued by Sygma Bank UK are not permitted. Minimum value for Credit Card Balance Transfers is £50. At the end of the promotional period you will be charged the Standard Rates of Interest in accordance to your Account.

Might be worth giving them a ring.

ParkerFive

Thanks for your quick response. I did ring I as thought it was a mistake and they said it was in their terms and conditions. I paid the transfer fee and am just unhappy now that the original deal I signed up for is not available. The only option is to pay the card off back to the original £850 balance transfer and make sure I don't use it. Just never heard of this before!!

jonesMUFCforever

It is a very bad idea to mix balance transfers and purchases on the same card.
If they have agreed to put you back in the position before the purchase I would take it.

Buzby

ASDA is a supermarket - the CC you have have paid ASDA to use their brand. Who is your card actually with?

ParkerFive

Hi
The provider is creation.

20aday

ParkerFive wrote: »

Hi
I got a credit card from Asda with a 0% for 12 months balance transfer £850. When I received the card I purchased some shopping. I have now received my statement and the balance transfer is no longer at 0% but up to the card purchase rate. Is this usual? Asda say it puts all the balance together if you spend on the card and to get the 0% there must be no other amount. I didn't think this would be the case as the card says 0% for 12 months!!

Hello,

Yes it is standard practice to be charged interest on the full balance when mixing balance transfers and purchases.

I made that mistake with the Asda branded credit card last year; transferred a balance and then used it for shopping to get cashback on purchases.

Couldn't understand why I'd been charged interest and then I clicked on MSE and someone (at the time) told me it was standard.

shortcrust

I think it's standard practice to be charged interest on the purchase balance, but not on the purchase and the balance transfer balance. I think it's actually very unusual.

Tixy

I would be very surprised if this was standard for asda branded cards, if it was it would I am sure have been posted about regularly on this forum. I agree with shortcrust it is very unusual.

Are you certain you have been charged interest on the whole balance not just the purchases balance and that you and the operator have not just misunderstood each other on the phone call?

Aquamania

ParkerFive wrote: »

Thanks for your quick response. I did ring I as thought it was a mistake and they said it was in their terms and conditions. I paid the transfer fee and am just unhappy now that the original deal I signed up for is not available. The only option is to pay the card off back to the original £850 balance transfer and make sure I don't use it. Just never heard of this before!!

The Asda Credit Card terms & conditions are given in full here:
http://money.asda.com/credit-cards/terms-and-conditions/

Perhaps you could enquire of them which particular term or terms they refer to. :cool:

Aquamania

ParkerFive wrote: »

Hi
I got a credit card from Asda with a 0% for 12 months balance transfer £850. When I received the card I purchased some shopping. I have now received my statement and the balance transfer is no longer at 0% but up to the card purchase rate. Is this usual? Asda say it puts all the balance together if you spend on the card and to get the 0% there must be no other amount. I didn't think this would be the case as the card says 0% for 12 months!!

You sure you are not being charged interest just on the purchases? This interest will accrue from the time of posting until repaid in full. (since you are not settling the account in full every month)