how long will these 0% transfer cards be available?

burkitt1986

hello everyone, im looking at getting a balance transfer card but im just wondering how long these big 0% deals are going to be around for, and weather i should wait for an even longer period to be available or to just go for it now in case they stop alltogether?

what is it thats causing the card companies to give out such long periods? i presume its in the hope that the debt isnt paid off and then they charge interest.

any input is greatly appreciated
Rob

thebritishbloke

They're giving out longer and longer 0% BT's so they can claim to offer the "best" deal.

If you have debt that you're paying interest on, why would you wait before you apply for it? Get it moved on to 0% ASAP.

colin13

martin lewis said there is a credit card with 33 mnth o% bt,,barclay card

burkitt1986

ive got about 6 months on my current deal so ive got a little bit of time yet. my only worry was that these deals would just stop one day but as long as theyll be around for a little while yet then happy days

YorkshireBoy

colin13 wrote:

martin lewis said there is a credit card with 33 mnth o% bt,,barclay card

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Last edited by colin13; Today at 4:37 PM.

If you'd like to edit your post again, it's actually 34 months 0%.

Grego1878Efc

Does anyone know of any balance transfer cards that would accept a application from the Isle of Man. I'm struggling to find one. Thanks

Luke

YorkshireBoy wrote: »

If you'd like to edit your post again, it's actually 34 months 0%.

10 years ago 6 - 12 months was the best you could hope for.

I think pays to be aware of the fees involved.

The deal quoted above has a 2.99% fee. I recently opted for a Halifax 24 month deal with 1.5% fee.

Halifax is saving a better deal for those that use its website 28 months with 1.5% fee.

The way I saw it is I could do 2 x 24 month deals (48 months) and the fee charged would be the same as Barclays 34 month offer

zerog

Since Barclays' min payment is 2.25% and Halifax's is 1%, you'd also keep more of your money for longer. With Barclays you would have paid off more than half over 30 months, whereas with Halifax you'd only need to pay back a quarter. On a £8000 BT, that's £2000 extra in your pocket assuming you can transfer the balance elsewhere.

Obviously these considerations are unimportant if you struggle to use a credit card as it should be used - i.e. pay off in full unless no interest (OR you have an amazing guaranteed opportunity that earns you more than 20% per year)

Winrick

Tesco had at 10 month 0% balance transfer deal with 0 balance transfer fee last month. Today' they have increased it to 12 months!

jamesperrett

Luke wrote: »

10 years ago 6 - 12 months was the best you could hope for.

But there would have been no up front fees to pay either.

Lloyds used to send me credit card cheques with an interest free period so I used to just pay them into a savings account and keep the money there for a while.

Luke

Happy days.

My point is that the trend is for longer and longer interest free periods so unless there is some sort of regulator intervention I wouldn't be too concerned about it coming to an end soon.