Nearly caught out

sirius

Hi folks

(thanks to this site) I got the MoreMoney credit card 12 months ago, which was giving 0% on purchases for 12 months. I've been making the most of the card spending on it and then stashing the money in my Ice Save account(again thanks for this site).

I knew the time was getting close for the 12 month period to end but nothing was on the statement. So I rang them on Monday to find out when it came to end to be told that it was on Thursday. They insisted something was on the statement but there was nothing.

Fortunately I had the £3,000 outstanding on the card, in an ISA attached to my bank account so I had to transfer that in to my current account to pay off the MoreMoney over the phone with my debit card.

When I paid the balance off the chap on the other end said it would reach MoreMoney in 2 to 5 days. The thought of having to pay any interest on that account made me a bit upset to say the least so I asked to speak to a supervisor.

After explaining again there was nothing on the statement about the 0% coming to an end and reasserting under no circumstances was I paying any interest on this account I was told that even if the payment did arrive after the 4th there would be no interest.

So thanks to this site I have now ordered a new 0% on purchases card and opened a new ISA, (from info received from this site) and hope to continue to have one over on the banks and credit card companies, as they have been doing to me for years.

Thanks to the site and everyone on it for all the money saving tips and tricks.

kuohu

Sounds like you've already used your ISA allowance though..?

YorkshireBoy

kuohu wrote: »

Sounds like you've already used your ISA allowance though..?

Unless it was deposited in the 2006/07 tax year?

sirius wrote:

reasserting under no circumstances was I paying any interest on this account

Taking an arrogant standpoint with a CSA is always a gamble. After all, do they have a responsibility to tell you the 0% end date on a statement? I ask because I've never been given it with my Virgin card's 0% offers.

Re the &more card, I've managed 3 of these cards and the reminder was printed on the penultimate statement of 2 of them (one is still running until December).

Personally, I always ask for the 0% end date during the activation phone call, and record it on the top of the credit agreement.