Barclaycard cash transfer

mrstemperton

Ok I am probably being really stupid here but....

I have been offered a cash transfer from my Barclaycard to my bank account for a 1.9% fee and 0% interest until January 2017 which I thought was a good deal as my card is something stupid like 34% APR so I only ever use it and repay before I get charged any interest. Transferring the cash would make it more flexible with my repayments. Or so I thought.

The terms say "Until you repay your transferred balance in full, you will incur interest on all your purchases at your standard purchase rate. This applies even if you repay your monthly spend in full each month."

So is this saying that, if I use my card to buy something for £50 and pay £50 off the same month I will still get charged interest on it? And how long will I get charged the interest for, just that month or will it continue? I just don't get it and now this doesn't seem like a good deal at all!

[Deleted User]

You'll pay interest on all parts of you balance if you don't clear in full.

So 0% on your cash transfer and 34% on your purchases. If you clear the purchases amount, there will be some trailing interest the following month, but that would then stop (assuming you haven't made more purchases).

Easiest thing is to use a separate card for your purchases if you're going to clear in full each month.