End of Barclaycard Zero Percent

BACKTOBACK

I have been stoozing with a large balance on a barclaycard, made some good money. Except for them increasing the minimum payments to 3% from the original 1% but still did okay.
Anyway the interest free period has finished. I now have a card with no money owed and a £14k limit. I do get the occasional offers but always with a fee around 3% to transfer.
I have no need for the card now. Should i just leave it open or close it down and hope to re apply as a new customer in a few months time for another zero percent transfer deal?

retiredbanker1

If you get an offer with a 3% fee and can find an account paying higher you will still be making money?

BACKTOBACK

retiredbanker1 said:

If you get an offer with a 3% fee and can find an account paying higher you will still be making money?

Yes true but might get 4.5% at the moment but interest rates will probably reduce over the next 12 months so its a risk and with a very small gain

Altior

The 3% minimums really chip away at the stoozing balance as well. Certainly I would say not worth it if the savings are yielding 4.5%.

BACKTOBACK

I just checked the statement and its saying 3.75% minimum payments. I think i will close this one now

surreysaver

BACKTOBACK said:

retiredbanker1 said:

If you get an offer with a 3% fee and can find an account paying higher you will still be making money?

Yes true but might get 4.5% at the moment but interest rates will probably reduce over the next 12 months so its a risk and with a very small gain

I find Barclaycard deals tend to be for 18 months, so although 3% fees, considering its for 18 months, that's equivalent to 2% a year.
It's also useful for cashflow, as well as making a profit from.
If you fill up all the Regular Savers, you'll earn more than 4.5% a year 

BACKTOBACK

surreysaver said:

BACKTOBACK said:

retiredbanker1 said:

If you get an offer with a 3% fee and can find an account paying higher you will still be making money?

Yes true but might get 4.5% at the moment but interest rates will probably reduce over the next 12 months so its a risk and with a very small gain

I find Barclaycard deals tend to be for 18 months, so although 3% fees, considering its for 18 months, that's equivalent to 2% a year.
It's also useful for cashflow, as well as making a profit from.
If you fill up all the Regular Savers, you'll earn more than 4.5% a year 

Thank you, what annoys me with Barclaycard is the minimum payment went up from 1% to 3.75% which means throughout the term you are paying much larger amounts from the savings 

Nasqueron

Santander have 6% on the edge linked saver up to £4k provided you don't activate the fee on the edge account