Balance transfer card with a capped rate fee

Joannef_2

Can anyone recommend a balance transfer card with a capped bt fee?

I have to buy my season ticket which is just under £4,000.00. I want to pay for it on my capital one cashback card and then transfer it to a 0% card. I know I will have to pay a bt fee but I was hoping to find a capped one as there were a few around a few months ago capped at £50 but the only one I can find at the moment is YBS with a 6 month 0% offer and ideally I need 9 months to pay it off.

Thanks

YorkshireBoy

http://www.stoozing.com/0fees.htm

Joannef_2

Thanks Looks like I've got quite a few to choose from.

Joannef_2

Morgan Stanley/Goldfish Fly and Buy do 0% for 9 months with a capped bt fee of £50.00 if anyone else is looking for a capped rate card.

Milarky

Why not just apply for a long term 'purchases' card (and hope to get a credit limit of at least £4K) instead of putting it onto Capital One for 1% cashback and then (hoping) to repay C1 in time to avoid their hefty interest charges (and even paying a fee to the new card for the privilege)?

Eg a 12 months 'interest-free purchases' Halifax card gives you more like '5%*' than '1%' allowing for the savings generated over that period - and no fees. It makes more sense to apply for a 'fee-free' product when you aren't even 'stoozing' (you're 'slow stoozing' instead). Go back to the cashback later, when all the purchases you make have used whatever credit limit is given.

*actually, if you are saving up the slow stooze amount - eg £4K - out of annual income rather than not using savings you already have then the rate is more like 2.5% - because the interest generated on this - and thus your 'saving' is the average of the amount deposited at 5% 'net' throughout the year

Joannef_2

I want to pay for the £4k ticket on my 4% cashback card then transfer it to a capped rate 0% card with 9 months to pay off so I will get £160 cashback less the capped rate bt fee - hopefully making me £110 after paying the bt fee.

Milarky

Joannef wrote: »

I want to pay for the £4k ticket on my 4% cashback card then transfer it to a capped rate 0% card with 9 months to pay off so I will get £160 cashback less the capped rate bt fee - hopefully making me £110 after paying the bt fee.

Sorry, didn't realise you had that card. Your plan makes a lot more sense now but does rely on being able to time the balance transfer correctly within the 56 days or so of any purchase. I suppose you would apply for this second card. Get accepted. Get your credit limit and activate it. Buy your season ticket. Then request a balance transfer - and it should all work. Had you asked for an employer's advance BTW? They often agree to pay for these things (and it is an 'interest-free' loan hopefully)