Cash from credit card

Suepoo

Might sound daft, but I am new to lending money! About the 0% money transfer cards, it says 0% for X months, 2.99% fee with 19.9% rep APR. My question is, is the 2.99% only applicable after the initial cash transfer i.e if I transfer cash after the first transfer? Or is it on anything not paid off? Or is it applicable only if you don't pay minimum repayment for the month?

Not sure this makes sense???

[Deleted User]

Suepoo wrote: »

Might sound daft, but I am new to lending money!

Some simple rules-

Only lend to people you trust.
Be prepared that you may not get it repaid to you.
And lend no more than you can afford to lose.

With regard to the money transfer card, you'll pay the fee on the balances you transfer.

There is then no interest to pay on the amount you've borrowed until the end of the promo period, as long as you make at least minimum payment and stay underlimit.