Balance Transfer Fees

anneevo

With 0% balance transfer what does it mean when it says, e.g., 0% balance transfers for the first 33 months from account opening
(2.89% fee applies during the first 3 months from account opening, then 3% onwards) What does this in bold mean? Does it mean your first balance transfer will be at 0% but if you transfer a balance from a 2nd card for example then you'll be charged 2.89% for 3 months then 3%?

thebritishbloke

No. It means that if you do a BT to the card within the first 3 months, you'll be charged a 2.89% fee for transferring. I.e. If you transferred £1000 of debt, the balance on the new card would be £1028.90. If you perform a BT after the first 3 months, you'll be charged a 3% fee, so it would be £1030 etc. They'll all still be at 0% interest until the end of the original 33 months.

anneevo

Thanks for that. I didn't realise it referred to the charge they make. Of course it does say 'fee' :-/