Beware Alliance and Leicester 0% offers!

floppity

I received some credit card cheques for my A&L Visa card yesterday - offering 0% for cheques and balance transfers up to November this year if used by April this year. All fine unless you are also taking advantage of their current 0% until July on all purchases made up to your March statement. If you take advantage of both offers they will only be 0% until July! i.e. if you pay off your 'purchase' balance in July and have taken out balance transfers or used the cheques, the payment will go towards paying off the balance transfer/cheque balance first and you may end up paying interest on the 'purchase' balance!

Phantom_Flan_Flinger

This is standard across (nearly) the whole industry.

If you can, you should have one card for purchases and another for Balance Transfers.

The allocation of payments is clearly stated in their T&C's,

Rutlandboy

You also need to be aware of how Alliance & Leicester manage their 0% offer on Purchases.
For example, my offer ends with the June statement, so I presumed that anything I bought after the May statement would revert to the usual '55 days to pay' arrangement. But that's not the case.
They start charging interest immediately after the June statement is produced, so by the time you get the statement, you are already incurring interest
Hence, it seems that you need to STOP using the card one month before the 0% offer stops, so that you know what the final balance is, and either pay off the balance, or get the amount transferred to a new card.

Has anyone found this to be any different?

YorkshireBoy

Rutlandboy wrote: »

Hence, it seems that you need to STOP using the card one month before the 0% offer stops...

Not really. You can continue to spend right up to a week or so before the June statement date. Just make sure you have a zero balance on the June statement date itself.