Skycard - extended 0% period

Dagobert

A year ago I took out a Skycard; purchases have been at 0%; my 0% period ends in March.

To-day, I received a special offer: 0% Skycard cheques, which attract a one-off fee of 2.99%.

The 0% period will end on 1st Dec. The fee, so I have been told, will not accrue interest. The cheques, which are valid until the end of March, can be paid directly into a bank account, up to 90% of the c/c limit.

Obviously, the outstanding balance will have to be cleared before the cheques can be used.

jules666

I got the same offer through the post today, like you say have to pay off the balance first and then cash the cheque. Saves applying for another card!

Dagobert

I just had a second phone-call with Sky: this time I was told that there will be a £1 interest charge on the fee (regardless of the amount) until it is cleared.

This sounds weird.

I couldn't find anything on the handling of cheques in the T&Cs. Does anyone know the facts?

YorkshireBoy

I've never had a Barclaycard run card, but it sounds like a 'minimum interest charge'.

Maybe the fee attracts interest in month one only, but then because there's residual interest accrued each month (of pennies, and due to their order of payments) they'll keep rounding this up to £1.

Then again, the CSA could have been guessing (a little like me) as I've had them do with me before now on other cards!

Dagobert

If I can trust the third person I spoke to (and she sounded as though she knew what she was talking about), here's the answer:

There used to be an interest charge on fees and the min. monthly interest was £1. Advisor #2 only knew the old T&Cs and only got half of that right.

Interest on fees has been abolished and therefore the fee will accrue no interest.


I really must get phone-call recordings in place.

Dagobert

The 0% BT period runs until 1st Dec. Does that mean up to and including?

What date does the full payment have to be received by?