Balance transfer supposed to be 0% but they are charging me

Killerseven

I did a balance transfer on Santander cc it was a year no interest until 2016. It cost about sixty quid one off charge which I paid.

Now I'm getting letters you are falling behind with payments, £20 month, we phoned up to clarify it should be nothing to pay for 12 months, but they say no you still have to pay £20 minimum every month,

What can w do please?

Gordon_Hose

You are paying the minimum payment each month, aren't you?

Gavin78

Yeah I am reading that the poster was expecting to pay nothing for a year?

You'll still have to pay a min on the amount on the card all it means is that for every £20 you pay you'll actually pay £20. once interest starts in a year you'll pay £20 but then say £3 of that might go towards interest so you'll only be paying £17 a month at that point as an example

[Deleted User]

I'm guessing you've now also lost the 0% rate.

Try calling and apologising and offering to set up a DD to see if they will refund any late payment fees and reinstate the offer.

You may get luck, but it's at their discretion.

Killerseven

Gordon_Hose wrote: »

You are paying the minimum payment each month, aren't you?

The whole point of nothing to pay is there is no min payment for a yer

JJG

Killerseven wrote: »

The whole point of nothing to pay is there is no min payment for a yer

Incorrect.

Killerseven

Gavin78 wrote: »

Yeah I am reading that the poster was expecting to pay nothing for a year?

You'll still have to pay a min on the amount on the card all it means is that for every £20 you pay you'll actually pay £20. once interest starts in a year you'll pay £20 but then say £3 of that might go towards interest so you'll only be paying £17 a month at that point as an example

There are no other payment on the card, only the balance transfer, that's it.

I have been stoozing, doing everything correct and now this

[Deleted User]

There are no credit cards I know of where you don't need to make a minimum payment.

Killerseven

Deleted_User wrote: »

There are no credit cards I know of where you don't need to make a minimum payment.

You have never heard of stoozing hen? Go read about it here on mse

[Deleted User]

Yes. But you still need to make minimum payments. Stoozing has nothing to do with the terms and conditions of a credit card.

Killerseven

Deleted_User wrote: »

Stooping? No.

Stoozing? Yes. But you still need to make minimum payments. Stoozing has nothing to do with the terms and conditions of a credit card.

Stoozing does not always mean you need to make min payments, if done correctly you can keep getting 0% at the end of every term

What the point if you have to pay charges every month