New card - Abbey Zero

YorkshireBoy

capstain411 wrote: »

Can somebody please suggest me how should I arrange my monthly repayments to avoid any interest.

Since the card has 0% on both purchases and BT's for an equal 6 month duration, does it matter (not that you could change the allocation of payments anyway!)?

capstain411

Thanks yorkshireboy, was expecting an answer from you. I am bit confused. Agree 0% int on BT and purchases. Then what about min 2.5% repayment.

YorkshireBoy

capstain411 wrote: »

Then what about min 2.5% repayment.

2.5% ??

The minimum payment on your card is the lesser of 2.25% of your balance, or 'fees + £5' in your intro period.

If you've already paid your BT fee, then your minimum payment is only £5...is it not?

PBA

DestroyingAngel wrote: »

Abbey have yet to get their act together fully, as some old Abbey credit card accounts are still serviced by MBNA, while the newer ones are not. Hence, if you are one of the cardholders whose details haven't migrated to Abbey Santander, your account is still with MBNA and when you call MBNA they will have your details to hand and can advise you accordingly. If, however, you are one of the newer account holders, or if your details have migrated to Abbey Santander, MBNA will not have access to your account and will have to transfer you to Abbey Santander. Not sure why Abbey Santander could not just put in an option on their customer service line to advise of this fact and divert callers to the right destination, instead of going from pillar to post!

I've got to say I'm quite chuffed that this old post I started back in the day is still going. The simple answer to DA is nothing to do with Abbey not getting their act together, just that if you have a very old Abbey/MBNA card then it still stays with MBNA. There was a special offer for these customers to move their card to Abbey/Santander, but this offer is now over.

jap200

Just received my new Abbey Zero card in the post and phoned to transfer £3000 on to it. Whilst on the phone as asked for confirmation of the date that the 0% period will end. I was told it was 1st December in my case as I applied for the card on 21st June and apparently Abbey always backdate the application to the first day of the month!

As I have only just received the card on the 3rd of July and the balance transfer will take 5-7 working days, so that gives me an unsatisfactory less than 5 months at zero interest, not 6 as advertised.

exel1966

I'd be very surprised if they were allowed to get away with back dating an application as surely that would be mis-advertising and would be something the FSA would intervene in. I certainley wouldn't accept it at face value and would be pushing for a full 6 months.
I know many cards apply the introductory rate from acceptance/application date but backdating is something I've never heard of.

HamiltonL

PBA wrote: »

I've got to say I'm quite chuffed that this old post I started back in the day is still going. The simple answer to DA is nothing to do with Abbey not getting their act together, just that if you have a very old Abbey/MBNA card then it still stays with MBNA. There was a special offer for these customers to move their card to Abbey/Santander, but this offer is now over.

I understand Abbey MBNA cardholders with cards close to expiring are now getting new cards issued, without the Abbey branding, just MBNA.

NickX

jap200 wrote: »

As I have only just received the card on the 3rd of July and the balance transfer will take 5-7 working days, so that gives me an unsatisfactory less than 5 months at zero interest, not 6 as advertised.

I can confirm that this is the same for me - it is basically a 5 month promotion, rather than a 6 month promotion.

converse1999

Hello,

Is anyone able to say what exchange rate Abbey use when converting Euros back to pounds? I'm assuming they'll claw back their 2.5% transaction fees that way?

YorkshireBoy

converse1999 wrote: »

Is anyone able to say what exchange rate Abbey use when converting Euros back to pounds? I'm assuming they'll claw back their 2.5% transaction fees that way?

They use the rate set by Mastercard, although may not use the rate on the day of the transaction itself, it could be 2 or 3 days later.