TV add for 0% balance transfers?

Tricky_2

Did i see correctly?

I am sure i saw a TV add last night for a credit card that offered 0% on balance transfers until Jan 2007? Am i seeing things or did anyone else see it, and if so which credit card company was it and what are the catches!

Many thanks

Tricky

Woby_Tide

Capital One

Martinslovechild

The catch is a 2% fee which is uncapped, i.e. borrow £15,000 at 0% until 01/01/2007 and it will cost you a fee of £300.

moneyuser

I wouldn't call that a catch, lots of cards charge a fee but who else offers 16mths 0%? You will have to have a good credit rating to get one.

Here is a link to a discussion about it on MSE http://forums.moneysavingexpert.com/showthread.html?t=87201

kriss_boy

Hey Im new!
So can you get the credit card, withdraw the 15 grand, put it in a bank and earn interest on it, then just pay it off 16 months later having earned a little profit?

skippy64

kriss_boy wrote:

Hey Im new!
So can you get the credit card, withdraw the 15 grand, put it in a bank and earn interest on it, then just pay it off 16 months later having earned a little profit?

You will still have to make a minimum monthly payment to the card company up to the end of the 0% deal so I dont think its a good idea to draw off £15,000 unless you draw off it from the savings account each month and use it to make the minimum payments with. Not sure if you would win in the end on that idea !?!!?

moneyuser

Please go and read the stoozing forum and visit stoozing.com :rolleyes:

grumbler

...or start with reading Martins article REVENGE! Make Free Cash from Credit Cards

Link to all articles - in the green bar above.

skippy64

moneyuser wrote:

Please go and read the stoozing forum and visit stoozing.com :rolleyes:

Doh !!! I'm just a newbie and still trying to get my head round this 'stoozing' concept. I humbly acknowledge my previous post was written in a moment of 'blonditis' ( I was blonde once, now going grey !! ). Now off to read a bit more about stoozing.
Steve