New Cards No Maximum Bt Fee

kgoodyear

Halifax seem to have got the ball rolling by removing the maximum balance transfer fee (generally £50) on their 12 month 0% card. Capital one have launched a new card 0% to January 2007, again with no maximum BT fee. They are offering me 25K, to BT this amount to them would cost me £500. Does any one have expreience of this being negotiable. Seems like an attempt to stop us stoozers

kev

YorkshireBoy

kgoodyear wrote:

Halifax seem to have got the ball rolling by removing the maximum balance transfer fee (generally £50) on their 12 month 0% card. Capital one have launched a new card 0% to January 2007, again with no maximum BT fee. They are offering me 25K, to BT this amount to them would cost me £500. Does any one have expreience of this being negotiable. Seems like an attempt to stop us stoozers

Reading various financial press articles recently, these fees are designed to hit the "rate tarts" who vastly outnumber stoozers.

Also, I read an article only today where it was claimed that only 32% of BT cards actually charge a fee - and I'm only aware of 3 or 4 of the "major" providers who do not cap this fee. So plenty more to go at yet.

Regarding the fee being negotiable, I wouldn't have thought this was possible as the T&C's of the account are printed on the reverse of your credit agreement. If they were to allow some negotiation on the fee, this would require the generation of individual credit agreements - something which would not be practical in the automated application/scoring/issue processes employed.

Smitty

thanks for the heads up Kev

The removal of BT caps will hurt all customers. Hopefully card providers with no BT caps will start to see their customer base decline.... however this assumes Mr Joe average reads far enough to see that his 0% balance transfer actually costs him (possibly) 100's of pounds...