0% balance cards without a 2% fee?

Question

My existing 0% deal ends in about 6 weeks so I'm looking to moving it to another 0% card, but I'm finding that they are starting to bury a "2% balance transfer fee, minimum 35" in their smallprint. To me this is

*not* a true 0% card and I'm surprised they can get away with calling it such.

The M&S card seems to be free of any fees on introductory balance transfers, but I would like to have another card up my sleeve just in case they end up giving me a derisory credit limit, as it can be a lottery with some cards giving 10k+ limits but others only giving 500!

Are there any other "true" 0% cards that do not charge *any* fees for a person who runs their account perfectly and always makes the min monthly repayment on time?

Andy Hawkins · Accepted Answer

Hi, Are you sure this is a *minimum* of UKP 35? Barclaycard have this, but they say it's a *maximum* of UKP 35... Andy

Adrian Boliston · Answer

You are right, I typed it wrong! You only need to transfer less than 2k to be hit with a 35 bill, which is not a pleasant thought!

Andy Hawkins · Answer

Hi, That's true...but that's still a fairly good deal it seems to me. 35 quid to borrow up to 5000 (in Barclaycard's case). Andy

John Smith · Answer

or go to the Independent's financial page which  compares the details of these cards. I have a Sainsburys one with 0% which  runs out next March. In Jan I intend to take out a new card and move the  cash then.

Chris Blunt · Answer

Some of those charges are negotiable. Several months ago MBNA sent me an offer of a balance transfer for nine month at 2.9% interest, with a £35 transfer fee. I rang them and asked if they would waive the transfer fee and they agreed.

Chris

Chris Laird · Answer

Andy Hawkins  wrote in news:         But remember you'll generally have to pay interest on that fee at the full  rate for the duration of the 0% offer. And you usually can't pay off the  35 before you've repaid the balance transfer because repayments are always  allocated against the lowest interest-bearing components first. So nowhere near as good a deal as it first appears.

Andy Hawkins · Answer

Hi, I hadn't thought of that! I guess I just didn't think where the 35 quid was coming from... Even so, the interest on a 35 quid balance per month can't work out all that much, can it? I'm starting to think you're right... Andy

0% balance cards without a 2% fee?

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