Misleading balance transfer fee

Katykat

Anyone else had this problem? I've recently transfered 2 balances to my new Bank of Scotland One credit card. Although they charge a fee for transfers I decided that because they were offering 12 months interest free, it would be worth it. The Terms and conditions actual words are. "Balance transfers. 2% (at least £2 but no more than £50.) As I was transfering £4250 from 2 cards, it would have meant £84 without that maximum charge of £50. On checking today, I find that they have charged £50 for one transfer and £34 for the 2nd. I've rung B of S to complain that nowhere in the leaflet or website does it say "maximum £50 PER TRANSFER. I've put in a complaint that this information is misleading. I've told them that if it had stated this ,that :hello: would have greatly infuenced my application. They,ve agreed to handle it as a complaint and promised to get back to me by next Wednesday. I await with anticipation.

Milarky

Jennand,

But it is implied that the £50 limit relates to each transfer made - for instance, how do they apply a fee at the time of the transfer without 'knowing' that you have already made an earlier transfer that has taken you 'up to' the limit? Taking your reasoning one stage further, the card would effectively come with the conditon:

We will charge you a once only fee of 2% for balance transfers - up to £50 in total. Thereafter any balance transfers you make will not be charged a fee."

The 'answer' to your situation [one that crops up often with fee charging becoming common] is to balance transfer in one go - and balance transfer from whichever other card doesn't itself charge a fee to the other card that was carrying a balance in the first place.

HTH

Katykat

But my argument is that it does not state that it means EACH transfer. I did transfer both cards on application, not separately. I think that unless something is stated in black & white, then we should not have to make assumptions. It is not enough to "imply" a condition, it should be stated quite clearly. Anyway, I'll see if my complaint is upheld & post the result here

YorkshireBoy

From the BOS credit card homepage at...

http://www.bankofscotlandhalifax.co.uk/creditcards/home.shtml

Bank of Scotland One Card
0% interest on balance transfers and purchases for the first 12 months and an excellent typical rate of 12.9% APR (variable). A handling fee of up to 2% applies per balance transfer.

I'm sorry to bring bad news, but you can't get much clearer than this.