MSE News: The ‘Great 0% ads scam’ 2 April 2017 at 8:46AM in Credit cards 19 replies 2.7K views

Former_MSE_Steve_1

The world of 0% credit cards advertising is a ‘wild west’ with far too few rules to protect consumers, a new MoneySavingExpert.com report reveals....

Read the full story:
'The ‘Great 0% ads scam’ – when 43 months 0% isn’t 43 months 0%'

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oldagetraveller

I suspect Steve needs to look up the definition of "scam" before creating his misleading headline!

chattychappy

The "Great MSE Headline Scam" !

TheShape

The article mentions terms/promotional periods being in the small print rather than in the headline of the offer and that being a problem.

Given that everyone should be reading the small print anyway, it shouldn't be too much of a problem unless MSE is suggesting people needn't bother checking the small print.

duncansoton

"People rightly focus on these offers to choose their card. However, many are then rightly left angry that the deal they get isn’t close to the one advertised, yet they’re stuck with it.."

People are offered a deal which they can take or leave, they're not stuck with it at all.

Voyager2002

Steve needs to learn how to write: the article is full of split infinitives.

jonesMUFCforever

I agree 100% with Duncan - if something goes wrong it is very easy to unravel a transfer and put everybody back to he situation they were in before they began.

lovinituk

Are MSE employing Daily Mail journalists now?

Shakin_Steve

You lot really are a harsh audience:D

jamesd

Yes, the ability to give the headline term to one in a thousand or fewer applicants does need to be addressed and may be a scam, depending on actual percentages used by firms for each deal term.

Another thing to be aware of is the effect of minimum payments over long deals, with even 1% greatly reducing the amount at 0% over time. For those who want to preserve their ability to get long deals or stoozers trying to maximise credit at lowest cost, spending the minimum payment amount every month is a useful tool. You'll pay interest on that at least between day of spend and day the payment is taken but in the early months or years it can be a better deal than more applications or balance transfer fees. 0% for spending deals will be better for those with ample potential credit, this is for those pushing closer to the edge of what they can get.

Pincher

I can barely make 24 months work, and 36 months just wears out the balance. Nothing to transfer to the next deal!