Isnt Halifax doing a longer term than this?

Any TCB with this ?

I had an email from nectar regarding this earlier. There are also £80 worth of points up for grabs if you go through them. You do need to spend £2000 in the first three months tho. I don't do credit cards tho so giving it a miss, would have been nice to get the points though.

wow I saw this in this week's MSE bulletin!

amazing old world, full of coincidences that make you sit up and say: hey!

Why not ? Could you not spend £700 for 3 consecutive months and pay in the £700 + min payment each month to get the £80 worth of points (or £160 worth if you save them for the next double up event) ??

No you would be better off getting the 0% on purchases credit card. Don't mix purchasing with balance transfers on the same card.

I think it was personal but worth checking your nectar account. Sometimes everyone gets them and other times they are selective.

Why is that , I'm not sure I follow.
If I was going to spend £2000 on my normal visa debit card (ie directly from funds in my bank account) , then can I not spend the £2000 using this new card and make the additional payments to the card manually each time I spend ?

This way I get to shift over £3500 of debt from another 0% interest cc that is due to expire at the end of this year and I will get a further 12/13 months before this needs paying off.
The £80 would be a free bonus if I was going to spend the £2000 over the next 3 months anyway , receiving no incentives on it if paying with my visa debit.

Can someone explain why this would not work please , sorry if I sound dumb, I assure you I am not :wink:

Because any money you pay off, say £700 would not service the spend debt, it would only service paying off the balance transferred, i.e the £3,500. You will pay hefty interest on the £2,000 you spend on this card.
NEVER EVER mix up 0% balance transfer card offers with 0% purchase cards, they are 2 completely different animals!

The Tesco credit balance transfer credit card I got doesn't work this way , the terms are that any money you pay off the card services the debt which attracts the 'Highest' amount of interest first so it prioritises.

What you are saying then is that this particular card works in a different way in that payments you make do not prioritise in any way in relation to which part of the debt you are paying off.
Its just your comment suggested this was the same for ALL cards and I can absolutely 100% say that this is not the case with the Tesco Balance Transfer credit cards we have.

Looking at the T&C's for Sainsburys Credit Card (CREDIT CARD AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974) , it would seem that you are perhaps mistaken with your claim ? ..........
Not sure whether the Consumer Credit Act 1974 dictates that this has to be the way all payments are treated regardless of what credit card you have but for sure the Sainsburys no balance transfer fee credit card comes with these terms and conditions ......


2.2 We use any payments you make to pay off transactions that appear on your statements starting with those on which we charge interest at the highest rate. We will then pay off transactions on which we charge interest at the next highest rate and so on down to the lowest rate of interest.

Just go for it then, if you know all the answers. Don't say you haven't been warned!

What's the minimum payment on this please 1% and I'm in?

I would strongly suggest that anyone interested in any deal regarding financial agreements should read the T&Cs before entering into any credit agreement as ultimately this is what you are signing up to , not some hearsay rumour you heard on hukd and thought you may be getting :wink:

Alternatively you could just take Muffboys advise and buy into whatever he believes to be true and take absolutely no notice of the Terms and conditions applicable to the product you choose at the time. Your call but I'll stick with the official Terms and Conditions on this one , even after my warning from muffboy , lol.

Note to Muffboy - I don't have all all the answers but the answers are there for everyone to easily access with a little research, perhaps spending a little more time reading the relevant info rather than clearly offering mis-information to others on here , it really isn't beneficial in any way , just pushing your pre-conceptions upon others.

The terms and conditions contradict your assumptions regarding how the payments are prioritised in terms of servicing the debt and therefore your claims are misguided and unfounded. :wink:

Just read above about mixing up purchases and balance transfers and I now think I might have made a mistake with my new Halifax credit card. Can anyone help me please by answering this?

Balance transfer was interest free for 32 months and purchases were interest free for 12 months.

I balance transferred £2000 to the Halifax card and made a purchase of £100. I am currently paying the 1% minimum payment each month by Direct Debit. In 12 months time I will have paid off roughly £240 of the total balance but will I then be charged interest for the remaining 22 months? Have I messed up?

Thanks, applied. Instant approval with £9k limit

Only got like £1k to transfer to it.... so should only take a few months to pay off... but even so! a few months saving of interest is better than nothing !!!!!!!!!

I sent the agreement back a week and a day ago, not heard anything yet.

How long has anyone else been waiting?

Thanks

Got me card today, very slow service ! but cheap balance transfer. Transferred my grand aim to pay off by end of May then will cancel the account.

Thanks again Op, few quid saved there.