MBNA "offers"

chattychappy

jamesd wrote: »

The APR for such a deal will depend on the amount borrowed, how the minimum payment is calculated, what you do after the end of the deal, whether it goes on to standard rate or not. Not easy to provide a meaningful APR value.

I disagree. APRs often include assumptions - eg cards with an annual fixed fee have this built into the APR calculation. What happens after the deal has expired is irrelevant - it then goes to a different APR. sThe only issue I see are the distorting effect of "minimum" minimum repayment amounts (eg 2% or £5, whichever is greater) and what happens when balances are mixed.

But it should be possible to come for an APR for, say, £1000 transferred with no other transactions.

rodent

mbna beats Natwest with 6.5% no fees
http://www.mbna.co.uk/credit-cards/mbna-low-rate-credit-card/

Also you need to consider the length of any deal when comparing Bt fees

Barclaycards 2.9% fee for 15mths is TWICE the cost of

MBNA 2.88% fee for 31 mths on their new platinum card (for 4% you can have it as cash!)

...if you pro rata the cost back per annum



ps Barclaycard are currently offering 33mths 0% for 2.99% fee !! so forgive me if i dont agree that the 15mth 2.9% fee is "great" at all !!

rodent

chattychappy wrote: »

I disagree. APRs often include assumptions - eg cards with an annual fixed fee have this built into the APR calculation. What happens after the deal has expired is irrelevant - it then goes to a different APR. sThe only issue I see are the distorting effect of "minimum" minimum repayment amounts (eg 2% or £5, whichever is greater) and what happens when balances are mixed.

But it should be possible to come for an APR for, say, £1000 transferred with no other transactions.

APR is irrelevant ! Better to work out exactly what you will pay on each deal using your intended plan to get a proper comparison... my plan is always based on paying ZERO interest so APR doesn't come into it x

chattychappy

rodent wrote: »

APR is irrelevant ! Better to work out exactly what you will pay on each deal using your intended plan to get a proper comparison... my plan is always based on paying ZERO interest so APR doesn't come into it x

I agree, me too. But given we have APRs that must be quoted for credit products in order that consumers can compare (even for very short term lending), it seems a nonsense that this rule isn't applied to BT deals.