tied_in_knots
New member
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.
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.