in reality it is £25 back as you have to make a balance transfer of £100 at least and minimum balance transfer charge is £5, still money for nothing!
Yuzo
9 May 17#3
Me and the wife have a shared FD account, I wonder if we can apply for a card each?
haggisheid to Yuzo
9 May 172#4
terms and conditions say that it is one payment per account holder, so no unfortunately.
Yuzo
9 May 17#5
Thanks for saving me a phone call :smiley:
iAmLegendFam
9 May 17#6
So I need to be in debt to get this deal..
marathonic to iAmLegendFam
9 May 17#8
Yes. Does it mean it's not a deal if it doesn't apply to certain individuals?
phill@sw-cc to iAmLegendFam
9 May 172#9
Not at all. If I was to make a substantial purchase, I would rather stick it on a 0% credit card and keep the lump of cash in the bank as you never know when you'll need that cash for an emergency like the boiler let go in the house or something.
mangoblank to iAmLegendFam
9 May 17#10
Or, you could make all your purchases on a credit card anyway. Either because you spend abroad, like the enhanced protection, or most importantly like the cashback a good credit card will offer.
I pay everything on my credit card, i get a lot of cashback every December and with this deal i could get £25 for transferring a small balance over (and paying it at my leisure, i'm not going to because I'm not with FD).
In any case, people have constructive debt in a lot of cases and this can minimize that, people have destructive debt in a lot of cases and this can help manage that.
Every which way, this is a good deal.
Lashley
9 May 17#7
would've used it if I was already a member
akajay07
9 May 17#11
Seen a couple of these deals getting hot recently and I don't really understand why when there are plenty of balance transfer cards available with no fee.
haggisheid to akajay07
9 May 171#12
The simple answer is that they hope you will either miss a payment and they will charge you, or not pay it off completely over the months that have interest free then they will hammer you with a bill, or they hope you will spend on top of this adding to your outstanding balance, they make money from you somehow. That is how you have to be very disciplined with this as the person mention above.
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Opening post
2.29% fee
£30 back if at least £100 is transferred
13 comments
I pay everything on my credit card, i get a lot of cashback every December and with this deal i could get £25 for transferring a small balance over (and paying it at my leisure, i'm not going to because I'm not with FD).
In any case, people have constructive debt in a lot of cases and this can minimize that, people have destructive debt in a lot of cases and this can help manage that.
Every which way, this is a good deal.