Understanding end of 0%

JimmyTheWig

adindas wrote: »

Please be aware I am refering to when the balance need to be transferred, I am not saying that the person should not apply the BT credit card earlier, of course they should as they might get rejected and therefore will need to find another alternative.

Generally the 0% on the new card will expire at a date determined by the date you apply for the card, not from when you make the transfer.
So if your old card is set to expire in 3 months time and you apply for a new 20 month 0% card now you either have 0 months on the old card and 20 months on the new card, or 3 months on the old card and 17 months on the new card, or a mix between the two. But in any case you only get 20 months, so why not do it straight away?

fifeken

adindas wrote: »

Well, in a open forum like MSE, anyone could have their own opinion.

Yes, indeed. Your post #8 did not read like an opinion but rather as a statement of fact, which it obviously isn't.

adindas

JimmyTheWig wrote: »

Generally the 0% on the new card will expire at a date determined by the date you apply for the card, not from when you make the transfer.
So if your old card is set to expire in 3 months time and you apply for a new 20 month 0% card now you either have 0 months on the old card and 20 months on the new card, or 3 months on the old card and 17 months on the new card, or a mix between the two. But in any case you only get 20 months, so why not do it straight away?

Well, I saw your post here
https://forums.moneysavingexpert.com/discussion/533499

JimmyTheWig wrote: »

The difficult bit is getting the money out of the credit card and into your bank account.

So I am assuming you are not a truly stoozer, because every truly stoozer knows how to do this and cost them nothing.

They will apply as many as 0% on BT whenever there is an opportunity and they believe they could still get it, the more the better. But will never transfer the balance where they could still benefit from three months left in their old zero percent on BT.

JimmyTheWig

adindas wrote: »

Well, I saw your post here
https://forums.moneysavingexpert.com/discussion/533499



So I am assuming you are not a truly stoozer, because every truly stoozer knows how to do this and cost them nothing ....

Firstly thanks for checking my other posts. If I need to find something I've written in the future, I know who to ask.
Secondly, what's with this "truly stoozer" phrase? It doesn't even make sense!?

I was Stoozing from an idea I had long before I heard of others doing the same thing. Don't know if this helps with my truly stoozer (sic) credentials.
I've used plenty of ways of getting money out of credit cards and have various options open to me now. But not all of these are appropriate for newbies. I still maintain that it's the hardest part.

fifeken

Several posts been removed from this thread. I think they offered bad advice anyway, but they prompted discussion.


Is offering poor advice enough to get posts hidden on here nowadays?

arbtrader

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chattychappy

Bear in mind that there is no "gotcha" situation. Let's say you have £1000 on your 0% deal and it expires on 5th January. Let's say your standard interest is APR 27%.

If you pay ONE WEEK LATE, you will simply pay 7 days' interest. ie about £5. Avoidable, of course. But still, there is no punitive backdating. Interest won't start running until the offer has expired. Statement dates/payment due dates don't really matter (though the offer might be aligned to a statement date).

This is different from the usual "up to 56 days interest free" arrangement where even if you pay just £1 short by just one day, you will lose your 56 days interest free.