Balance Transfer fee as a purchase?

beccatt

DH and I both took out tesco cards for their long 0% interest balance transfers. Made one transfer within first week of having card - the 2% fee was included in the balance transfer and so is interest free.

Just under three months later we each made a further BT and the 2% fee has this time been charged as a purchase on our card. Purchases only get 3 months 0% interest so now we are being charged a few pounds a month for the fee.

I complained about this last night and cust services told me we should have been told at the time of the BT that this was the case. She also said that it was 'lucky' that we didn't get charged the first time round. Am waiting for someone to call back so I can make a formal complaint and hopefully get charge lifted.

Anyone else experienced this? Has there been a change in Tesco policy on this recently?

I know it's only a few pounds in total but it's a sneaky loophole to mean 0% BTs aren't actually interest free after all.

johnmoney05

If you read carefully the statement, they do take the TT fees as purchase. And it is clearly stated that any other purchase except Tesco will be charged interest after 3 months from the date of your account open.

I think you should pay the TT fees off right now. Just add the payment a little higher, mins payment + TT fees + a few pounds interest.

As I remember, they apply your payment to the charge first.

I got my June, July and Aug statements, there was no interest charge on TT fee, but I have to wait and see my Sep statements.