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  • FIRST POST
    • Sassybot
    • By Sassybot 10th Jan 18, 7:09 PM
    • 47Posts
    • 5Thanks
    Sassybot
    0% interest on a balance transfer card
    • #1
    • 10th Jan 18, 7:09 PM
    0% interest on a balance transfer card 10th Jan 18 at 7:09 PM
    I got a balance transfer to Barclaycard. I used MSE to find the card and everything, including the info from Barclaycard said I had 37 months of 0% interest. However the statements for them show that I'm being charged interest.

    Have I just not understood what the 0% interest over 37 months meant or has something gone wrong?
Page 1
    • Coveredinbees!!!!
    • By Coveredinbees!!!! 10th Jan 18, 7:14 PM
    • 3,169 Posts
    • 1,959 Thanks
    Coveredinbees!!!!
    • #2
    • 10th Jan 18, 7:14 PM
    • #2
    • 10th Jan 18, 7:14 PM
    You usually get charged a one off fee on a balance transfer, typically 2-3%. Other than that the shouldn't be any other charges.

    • zx81
    • By zx81 10th Jan 18, 7:16 PM
    • 17,268 Posts
    • 18,371 Thanks
    zx81
    • #3
    • 10th Jan 18, 7:16 PM
    • #3
    • 10th Jan 18, 7:16 PM
    Alternatively, have you put purchases on it?
    • Sassybot
    • By Sassybot 10th Jan 18, 7:18 PM
    • 47 Posts
    • 5 Thanks
    Sassybot
    • #4
    • 10th Jan 18, 7:18 PM
    • #4
    • 10th Jan 18, 7:18 PM
    I have put one purchase on the card and I've checked all three statements (yes, I know I'm naughty and should have checked earlier) and the interest is on them all :/
    • zx81
    • By zx81 10th Jan 18, 7:21 PM
    • 17,268 Posts
    • 18,371 Thanks
    zx81
    • #5
    • 10th Jan 18, 7:21 PM
    • #5
    • 10th Jan 18, 7:21 PM
    You'll have been charged interest on the purchase, and then trailing interest the following month.

    You'd need to post the detail, with specific dates of transactions and dates to get a detailed answer.
    • Sassybot
    • By Sassybot 10th Jan 18, 7:21 PM
    • 47 Posts
    • 5 Thanks
    Sassybot
    • #6
    • 10th Jan 18, 7:21 PM
    • #6
    • 10th Jan 18, 7:21 PM
    Ah right so the 0% is only on the money that came across? That would make sense
    • zx81
    • By zx81 10th Jan 18, 7:23 PM
    • 17,268 Posts
    • 18,371 Thanks
    zx81
    • #7
    • 10th Jan 18, 7:23 PM
    • #7
    • 10th Jan 18, 7:23 PM
    Correct. And purchases will attract interest, even if cleared in full, as interest is only waived if the entire balance - BT included - is cleared.
    • Sassybot
    • By Sassybot 10th Jan 18, 7:34 PM
    • 47 Posts
    • 5 Thanks
    Sassybot
    • #8
    • 10th Jan 18, 7:34 PM
    • #8
    • 10th Jan 18, 7:34 PM
    Gotcha, that explains it. How silly of me to have not understood. I only put a hotel room on it and have left if to get the Christmas period over with. Could have put it on my debit card with a bit of squeezing. Lesson learnt
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