Christmas In The Good Old Days
ChatterBank1 min ago
Balance Transfers
2 Answers
When they say 0% on Balance Transfers for a year what does it mean.Later they say charge is made for Balance Transfers,How much is this? Many Thanks for any replies.
Answers
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The first part means that if you transfer a credit or store card debt onto another card, you pay no interest on that amount for a year. But you will pay interest on any other borrowing/spending on the card.
The second part is an 'arrangement fee' - rates vary between providers but are usually capped, e.g. 2% of the balance being transferred, maximum �50.
Do check the small print of any deal, though.
The second part is an 'arrangement fee' - rates vary between providers but are usually capped, e.g. 2% of the balance being transferred, maximum �50.
Do check the small print of any deal, though.
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