balance transfer

charlienospam · 2007-02-28T13:01:38+00:00

Hi, Sorry of these questions seem dumb! I have a balance of £2900 that I'm going to transfer to a new 0%HSBC card I have, but I've got a couple of questions: 1) If I make this transfer to the HSBC card, then spend/withdraw cash on the HSBC card, presumably that won't affect the 0% interest on the balance transfer amount? 2) HSBC say I can pay off other credit cards/store cards and take advantage of the 0% period- that presumably means I can't pay off an overdraft or other debts with it and still pay 0% interest? thanks

Feb 28, 2007 22 Replies

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Gordon H 19 years ago

Alex writes

You are absolutely right!

Don't forget I saved up 50%......

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Trust No One 19 years ago

Well I've been in contact with Egg and as I thought they treat the balance transfer fee as separate from the amount borrowed, and interest is payable at the standard rate on this. And of course you're unable to pay off the balance transfer fee until you've paid off the balance transfer.

This bit should really be mentioned up front or in the t&cs.

I think I'll be going elsewhere in future.

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