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Balance Transfer deal ending
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Ambyth
Posts: 33 Forumite

in Credit cards
Morning,
When a balance transfer deal comes to an end, does it then start charging at the current interest rate on the card?
Thanks
When a balance transfer deal comes to an end, does it then start charging at the current interest rate on the card?
Thanks
0
Comments
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What does it say on your T’s & C’s ?Mortgage free
Vocational freedom has arrived1 -
What else can it say if not current interest rate? I think this is the only possibility.1
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Yes it will revert to one of the standard interest rates, different types of balance may have different standard interest rates which should be shown on your statement.
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I've always had emails from the banks when my BT offers were ending, usually a month or two before and telling you that you would be charged interest with the details of what you would pay. Yes you will pay interest at whatever rate was in your terms (typically the standard rate for the card)
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Thanks everyone.
Checked my current interest rate, so think I've worked out how much more interest they will be charging. I can't get any BT offers yet so will try in a few months.0
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