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Big Warning!!!! Barclaycard
smeghead_3-2
Posts: 32 Forumite
in Credit cards
Just got a cheeky 
offer from Barklaycard, promoting :cool: their Platinum Card. Boast 0% interest for the DURATION of any balance transfer :T , as (and get this) a THANKYOU for spending at least £25.00 per month :eek: .
This would mean that slowley slowley you would delete the balanced transfered money :beer: , BUT all the while knocking up £25.00 per month , which would stay on the card until the transfered balance was paid off, accumulating a TYPICAL 17.9% ap :eek: r.
Now I am no mathamatition
(as I am not a great speller
), BUT if it took you 1 year to pay off transfers :beer: you would have accumulated £300 debt on the card :eek: accumulating interest all th while. I am sure I could produce a graph to illustrate the point, but I think the message is clear...
BARKLAYCARD......BOOOOOOOOOOOOOOOOOOOO :mad:
Please visit my blog @ www.them-were-the-days.blogspot.com. Hopefully it will make you smile, and inspire you to comment.:T
offer from Barklaycard, promoting :cool: their Platinum Card. Boast 0% interest for the DURATION of any balance transfer :T , as (and get this) a THANKYOU for spending at least £25.00 per month :eek: . This would mean that slowley slowley you would delete the balanced transfered money :beer: , BUT all the while knocking up £25.00 per month , which would stay on the card until the transfered balance was paid off, accumulating a TYPICAL 17.9% ap :eek: r.
Now I am no mathamatition
(as I am not a great speller ), BUT if it took you 1 year to pay off transfers :beer: you would have accumulated £300 debt on the card :eek: accumulating interest all th while. I am sure I could produce a graph to illustrate the point, but I think the message is clear...BARKLAYCARD......BOOOOOOOOOOOOOOOOOOOO :mad:
Please visit my blog @ www.them-were-the-days.blogspot.com. Hopefully it will make you smile, and inspire you to comment.:T
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0
Comments
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I see :rolleyes:smeghead wrote:...Now I am no mathamatition ...
See Barclaycard new (I think) deal - my brain aches... and Barclaycard 0% Forever on BT's0 -
As grumbler says, its been discussed in those other threads. Arranging to spend 'exactly' £25 each month does entail more organisation than the '£1 spend' version. Also the min payments are 3% not 2% which cuts into your profit a bit more quickly.
What I'd like to know is:
Maximum amount? (£5k?) allowed to transfer - the more you can the more the profit margin?
Repeatable? (probably not) balance transfer or only a single balance transfer?.....under construction.... COVID is a [discontinued] scam0
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