CHARGES ON A 0% TRANSFER CREDIT CARD

Dham06

Hi, I wonder if anyone can explain this for me?
I transferred a balance on to a Credit card which had a transfer fee and 0% for the remaining term. I have made all monthly payments (and a little more each month) on time and have not used the card at all for any purchases. I have noticed that I have been getting charged just over £3 per month in interest? (won't bankrupt me, but want to know why I'm paying it?)
I have read on some threads that some providers charge interest on the transfer fee, but this was never mentioned by the company as I began my term. If this was the case, it would have been paid off by now from the payments I have made to the card.
Will contact the card provider in turn, but wanted to see if anyone has come across this before themselves?
Thanks in advance with any guidance on this.

[Deleted User]

If the fee attracts interest, you would have been told that in the terms.

How much was the fee?

born_again

While you say 0% transfer fee. That does not say NO interest.
Very unusual to get 0% interest & 0% fee on a balance transfer. As they are making nothing on the transfer.

So what was the transfer offer on both Interest & fee?

jonesMUFCforever

What card was it and what was the offer?

[Deleted User]

born_again said:

While you say 0% transfer fee. That does not say NO interest.
Very unusual to get 0% interest & 0% fee on a balance transfer. As they are making nothing on the transfer.

So what was the transfer offer on both Interest & fee?

I just opened a Santander credit card account with 0% interest and zero fees for 18 months, so they do exist (but agree are rare).

eskbanker

born_again said:

While you say 0% transfer fee.

OP didn't say that!

Dham06 said:

I transferred a balance on to a Credit card which had a transfer fee and 0% for the remaining term.

MalMonroe

You need to ask why you've been paying just over £3 per month. 

When you pay a fee to switch to a 0% interest credit card it's just a one-off payment. I have one from Virgin and although I did pay a small transfer fee, I have paid no interest for the last 12 months and that is due to continue for another 8 months. 

Just contact them and ask what's going on. It could very well be an error. Doesn't matter if it's only a small amount, it's YOUR money and you're entitled to know where it's going. And why. 

MalMonroe

jonesMUFCforever said:

What card was it and what was the offer?

We don't need to know that. 

born_again

camelot1971 said:

born_again said:

While you say 0% transfer fee. That does not say NO interest.
Very unusual to get 0% interest & 0% fee on a balance transfer. As they are making nothing on the transfer.

So what was the transfer offer on both Interest & fee?

I just opened a Santander credit card account with 0% interest and zero fees for 18 months, so they do exist (but agree are rare).

Wonder if that is what the Op took as the All in One card has a £3.00 a month fee.

jonesMUFCforever

MalMonroe said:

jonesMUFCforever said:

What card was it and what was the offer?

We don't need to know that. 

Why not? We could then look at what the OP signed up for.

I have a theory that if it is £3  then one purchase must be cash related in some form.Let's hope the OP comes back to clarify.

coachman12

jonesMUFCforever said:

MalMonroe said:

jonesMUFCforever said:

What card was it and what was the offer?

We don't need to know that. 

Why not? We could then look at what the OP signed up for.

And so could the O/P look up what he signed for all by himself in privacy.