Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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http://www.halifax.co.uk/creditcards/conditions_7448.asp
If i was to get this card and spend £700 in one go and not spend anymore what could be the minimum repayment?
Any other info would be appreciated 
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Conway563
Member
Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
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According to that it would be £7 p/m
Doesn't seem right to me though from past experience
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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Thats what i thought Joe 
I wouldn't do the minimum anyway but it just doesnt seem right.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Where's the £7p/m from?
15.94% APR? That's like £9.30ish interest per month. That's not paying off any of the debt either.
That's right isn't it?
EDIT: I deleted it because I realised it's 0% for 10months anyway.
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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And I deleted as you deleted.
Was agreeing with you anyway - its interest charge + monthly min (£5) or 1%.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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I still wanna know where £7 is from? It threw me off thinkin he's seen somethin I hadn't.
EDIT: Ah, is that the 1% with the interest free for 10months? I guess it is.
[Edited on 13-10-2008 by loafofbrett]
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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Yeah its the 1% of the £700 he would spend on it. He forgot about the interest charges aswell though ontop of that.
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Conway563
Member
Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
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Yeah I somehow missed that bit about the interest charge so was just taking the 1% of the £700
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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But no interest for 10 months, right? 
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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That's what it says 
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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No interest for 10 months and a low payment = lots of outstanding balance by the time you come to start paying it back.
You need to be very careful as if you don't remember - they won't remind you - you'll continue paying £7 on a regular rate of 15% which is closer to £40pm, they'll charge you late fees and all manner of faffing as you've not paid the minimum.
In my experience these types of deals rely on you making a mistake with late payment so that they can be taken off you. I lost 0% on many thousands worth of balance while I was between houses, almost cost me hundreds of pounds pm just because I was a day late paying a fiver.
Keep a handle on it.
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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I aim to have it paid off before the 10 months anyway but queried the min repayment incase i was ever a little short one month.
Keeping a handle on it wont be a problem.
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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+ as soon as you hit 10 months the interest gets backdated to day 1... they forget to tell u that bit...
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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think it says in the the link i posted about that. Something Like £123 interest
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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i work for mbna/virgin....
we charge £5+ fees and charges....
so if your on 0% its Just £5!!!
I would just set up a dd for the min and pay in extra when you can!
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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quote:
Originally posted by Twiggy
i work for mbna/virgin....
we charge £5+ fees and charges....
so if your on 0% its Just £5!!!
I would just set up a dd for the min and pay in extra when you can!
Can you get me a decent deal?
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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quote:
Originally posted by corsa_tomtom
quote:
Originally posted by Twiggy
i work for mbna/virgin....
we charge £5+ fees and charges....
so if your on 0% its Just £5!!!
I would just set up a dd for the min and pay in extra when you can!
Can you get me a decent deal?
virgin have a 16mth 0% deal....
what do you want me to do?
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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give it to me now please
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John
Member
Registered: 30th Jun 03
User status: Offline
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Can I apply online and transfer £1300 across or would I only be able to go up to whatever limit they decided to give me?
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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quote:
Originally posted by corsa_tomtom
give it to me now please
i would advised if you get the card/limit... to do a money transfer...(stick it in your bank account, thus giving 16mths 0% (although there is a 2.98% fee...)
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Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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what is the deal with applying for credit cards in the current climate, rejected more easily?
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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I have a question regarding Balance transfers.
When I took my Barclaycard I transferred 3K to it on 0% balance transfer for 10 months.
When it gets to March and it runs out and there is still an outstanding balance of 2k, will I incur interest on the previous 10 months? Or will interest just start to be claculated from March?
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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Backdated to the previous 10 months
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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As in they will calculate interest on it as though its bene outstanding for 10 mo nths, obv u dont have to pay the 10months you got free but thye will count it as though it has been outstanding for 10 months at x%
They conmveniently dont make this clear...
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