banance transfer john lewis card

johnz

I hope I'm not misusing this category. I want to inform about a bad deal I have been caught out on.
I have used balance transfers from time to time - they have always worked for me. However, I transferred a balance recently to my john lewis partnership card, and then discovered that the small print says that I am charged interest on future purchases from the day I use the card - no days grace until I settle the bill - minus the balance transfer outstanding.
This means that if you transfer a balance to this card it is very expensive to use it for anything else until the balance transfer is cleared.
Do any other cards have this condition?
It seems a poor way of doing business - it was my main spending card - now I won't use it again.

[Deleted User]

Almost all cards operate this way.

Unless you clear the balance in full, you are charged interest on the money you borrow.

General rule is not to spend on a BT card.

phillw

johnz wrote: »

It seems a poor way of doing business - it was my main spending card - now I won't use it again.

Some people know, some people get caught out 1 month, some people pay interest for many months. At the end of the deal some people will not pay it all off and get charged a lot of interest.

Seems like a great way of doing business for them. If you pay it off every month and they don't charge interest then they aren't making much money from you, with credit cards the profits are in the unintended fees.