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MSE News: Five balance transfer deals cut

edited 12 March 2018 at 5:59PM in Credit Cards
6 replies 1.9K views
Former_MSE_KarlFormer_MSE_Karl MSE Staff
175 Posts
I've been Money Tipped! Newshound! Best Buy Bear
MSE Staff
edited 12 March 2018 at 5:59PM in Credit Cards
Five best-buy 0% balance transfer deals have been cut this week, with the longest card now offering up to 36 months at 0%, and the longest no-fee card 28 months. If you've credit card debt to shift, act now before deals worsen...
Read the full story:
'Card providers pull FIVE top 0% balance transfer deals'
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Replies

  • stevenhp1987stevenhp1987 Forumite
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    MSE_Karl wrote: »
    Card Providers pull FIVE top 0% balance transfer deals

    I'm not seeing many (if any?!) deals that are actually "pulled". I see deals which have had 1 month shaved off, and indeed, the Barclaycard offering, while reducing the term by one month, has lowered the fee making it a better deal than before.

    Why must the title read like click-bait and be completely inaccurate?
  • EctophileEctophile Forumite
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    I might be more impressed with these 0% interest transfers if they didn't slap a "balance transfer fee" on instead. They are just charging the interest by the back door.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • edited 9 March 2018 at 11:46PM
    michaelsmichaels Forumite
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    edited 9 March 2018 at 11:46PM
    Ectophile wrote: »
    I might be more impressed with these 0% interest transfers if they didn't slap a "balance transfer fee" on instead. They are just charging the interest by the back door.

    1.35% interest to borrow money for 35 months sounds pretty cheap to me, and cheaper than 1.8% for 36 months. Still mse is much more interested in sensationalism than facts.
    I think....
  • reduxredux Forumite
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    I disagree with this comment in the article, or suggest it could be more carefully written.
    If you've credit card debt to shift, act now before deals worsen.

    If someone has an existing card balance they are considering transferring, then if it is interest bearing then it was already worth acting before this.

    However someone who has a balance already at 0% and wants to move it in a few months time should note this but not panic. Voluntarily losing say 6 months now by transferring early would be worthwhile only if more than 6 months will be trimmed from new deal availability within that time. Is MSE suggesting that might happen? Not necessarily.
  • nic_cnic_c Forumite
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    redux wrote: »
    I disagree with this comment in the article, or suggest it could be more carefully written.



    If someone has an existing card balance they are considering transferring, then if it is interest bearing then it was already worth acting before this.

    However someone who has a balance already at 0% and wants to move it in a few months time should note this but not panic. Voluntarily losing say 6 months now by transferring early would be worthwhile only if more than 6 months will be trimmed from new deal availability within that time. Is MSE suggesting that might happen? Not necessarily.
    True they give examples of a month being shaved off, so shifting debts now might not save money if you already have 0% and time left. Like everything its a consideration - there are cards with longer 0% and higher fee and ones with no fee or reduced fee with slightly shorter 0%. MSE has been warning that long 0% cards would be coming to an end forwell over a year now, but all we've had is a slight shortening. Will they be telling us to sell our houses and rent for a while to ride out the pending housing crash.

    I'll keep my 0% and when they are near the end look for another then,
  • ThrugelmirThrugelmir Forumite
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    There's a general tightening now that transfers have come under the spotlight of the regulatory authorities. Life isn't going to get any easier that's a certainty. Repaying the debt is the issue though. Not having an expectation of endless transfers. Eventually the road will end and there'll be a cliff below.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
This discussion has been closed.