The end of 0% credit card offers?
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The end of 0% credit card offers?
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Originally Posted by ChrisB
This was always the long term strategy for the banks - get people to run up huge bills at interest free for a couple of years (When rates were low) - Then when the rates are high and the average mug owes 5-10k hit them with 25% PER ANNUM.
Sharks .
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Credit card APR never used to interest me because I pay off the balance each month, but the 0% offers have been tempting just because I can keep the money in a savings account and make some money
#4
I think it will indeed mess some people up. However some people have profited very nicely from it. One woman has made ~85K from Card tarting. Esentially the cc companies gave her 85K !
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Originally Posted by Stueyb
One woman has made ~85K from Card tarting.
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My mum has saved £££££s on interest on her mortgage by having a very large lump on a load of 0% cards. This wont be a problem for her as she will just put it all back onto her flexible mortgage.
Dave
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Originally Posted by TopBanana
So with balance transfers would they just write a cheque to you, or would they insist on seeing a previous card balance and pay the other CC company directly?
(Barclaycard don't charge a cash advance fee if you take it as a "loan" & transfer into a Barclays account)
Money for nothing........ as long as you can repay the day 0% deals end !!!!!!!!
P.S Watch that the new 0% lender doesn't insist on a minimum monthly spend.
D
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