Warning Natwest Balance Transfer T&C

[tied_in_knots]

So I've have several balance transfer cards before with 0% periods. I've always used them as backup if Amex isn't accepted for daily purchases. I always paid minimum payment and any additional payments each month and never had interest charged.

I've recently had a Natwest 0% £0 fee balance transfer card and it seems they operate differently, in that you must pay off the WHOLE balance(including the balance transfer) in order to avoid interest until the next payment due date. I checked the terms and conditions on my other card and it states that I pay off the balance (minus any promotional balance transfer amount) which must be like my other cards I had previously.

So because I haven't paid the whole balance transfer off which is still within 0% promotion period I get charged interest daily from the point of transaction for any extra payments. It was less than £2 because I used it rarely but was a shock to see and the online chat/customer agent was not helpful in confirming our explaining anything.

Not sure how common these terms are but something to be aware of.

 

[randybonnette]

@tied_in_knots Purchases and balance transfers are different.

You can have cards which have 0% for purchases but charge 25% interest on balance transfers, and vice versa.

If you used a balance transfer card to make purchases, I am not surprised you are getting charged interest?

 

[danmtz]

@tied_in_knots You can’t really mix the two types of debt on the same card. Found this issue myself on NatWest and Tesco Bank cards getting charged interest on purchase spend with active balance transfers. The only institution that has not charged me for spend with an active balance transfer is Sainsburys Bank if I repay straightaway.

 

[beloved_dust_heap]

@tied_in_knots This doesn't sound correct.

Check the back of the statement for the allocation of payments policy.