Offer from AQUA

Shakin_Steve

Received an offer by email from Aqua yesterday ref balance transfers. Up to 95% of the cards balance @9.9% for 6 months with a 3% fee. Just ring up with the other cards details and it's done.
Could, maybe, be of some use to someone, but not me. I may be wrong but I get the feeling that they want me to start giving them some money instead of just settling up every month.

Nasqueron

It's a BT offer for those who can't get even semi-mainstream BT cards, even 9.9% is better than 25,30,40% that some might have on sub-prime cards. They probably assume if you have an Aqua one you can't get anything better and might have other debts, I doubt it's individually targeted

binaryuniverse

Could be useful if have another card to shift back to, after that 6 months ends, of if you can definitely pay it off in that time.

Otherwise you're asking for a whole heap of trouble, later on.

redux

Make sure you pay each month's new spending in full, and do it early after the statement, rather than just before the due date.

Even then your spending on this card will now incur interest from the day of purchase to the day of payment to clear it.

In other words this will be most use to people who import a balance from a higher rate card, and can stop spending on this card during this offer, and less use to people who so far have been paying in full each month. Be cautious not to let things run away.

Shakin_Steve

redux wrote: »

Make sure you pay each month's new spending in full, and do it early after the statement, rather than just before the due date.

Even then your spending on this card will now incur interest from the day of purchase to the day of payment to clear it.

In other words this will be most use to people who import a balance from a higher rate card, and can stop spending on this card during this offer, and less use to people who so far have been paying in full each month. Be cautious not to let things run away.

I've had this card for about eight months or so, had two credit limit increases. It is paid in full every month by direct debit, never paid any interest, so I don't really know why you're offering this advice.

Shakin_Steve

Nasqueron wrote: »

It's a BT offer for those who can't get even semi-mainstream BT cards, even 9.9% is better than 25,30,40% that some might have on sub-prime cards. They probably assume if you have an Aqua one you can't get anything better and might have other debts, I doubt it's individually targeted

I have a barclaycard and an MBNA card.

redux

Shakin_Steve wrote: »

I've had this card for about eight months or so, had two credit limit increases. It is paid in full every month by direct debit, never paid any interest, so I don't really know why you're offering this advice.

I thought your post was for possible advice to other readers.

So was mine.

Nasqueron

Shakin_Steve wrote: »

I have a barclaycard and an MBNA card.

Hence why I said "they probably assume", it's marketing stuff, people who can get middle of the road cards like MBNA and Barclaycard wouldn't normally be using Aqua for their day to day spending with the likes of Amex / Amazon giving better cashback rewards