3 month payment holiday in the case of 0% balance transfers on credit cards

keiran

Does anyone know the situation with this scenario?
With "usual" corona payment holidays, lenders will give a payment holiday for 3 months, but interest will be added later.
I have a number of 0% balance transfer offers, which of course require monthly minimum repayments.
Would the lenders extend the 0% by another 3 months, or what?
 I don't need to have a payment holiday, but this issue seems to be one which could be explored for general interest 

redux

I strongly doubt any would extend the far end of the 0%. Minimum payment on some cards is only 1%, so I don't see a lot of point asking for a payment holiday, unless struggling on every last quid.

On Paypal credit though, their offer was payment holiday and 0% interest for 3 months, including on new spend within that time, so I did ask for that, even though it's only about £200 balance at the moment. 

[Deleted User]

The 0% period will remain the same.

born_again

keiran said:

Does anyone know the situation with this scenario?
With "usual" corona payment holidays, lenders will give a payment holiday for 3 months, but interest will be added later.
I have a number of 0% balance transfer offers, which of course require monthly minimum repayments.
Would the lenders extend the 0% by another 3 months, or what?
 I don't need to have a payment holiday, but this issue seems to be one which could be explored for general interest 

The length of 0% will remain the same. You just won't have to make any payments for 3 months. But it would mean you have to payback more a month if you want to clear before the end of the term.
So payment holidays, while seem a good idea, and I bet many have gone for them even though they do not need them. Are not going to save anything in the long run.
In fact you may find that lenders keep this info and will use it in any future lending requested or offered.