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XswampyX

How Bad Must It Be?

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Got this in the post today. :blink:

Is all the free money sloshing around in the system about to be set free?

I'm just speechless...... but i might take the offer though. :D

WTF_2_zpscffb2f7d.jpg

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Got this in the post today. :blink:

Is all the free money sloshing around in the system about to be set free?

I'm just speechless...... but i might take the offer though. :D

WTF_2_zpscffb2f7d.jpg

...you pay a fixed 3.9% of the sum transferred up front... i.e. at the time of transaction execution....

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If customers don't use the 0% transfer facility and just buy a few things with the card (well within the limit) they pay 17.9% on those borrowings assuming it's not paid off each month.

Take up the offer and transfer 90% of the credit limit and omit one minimum payment and presumably it's 17.9% on the total amount transferred?

Any part of the 90% not paid off within the interest free period has the 17.9% rate applied - maybe even backdated?

Edited by billybong

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Is the encouragement to transfer Barclays credit/debit card money to a Barclays current account some sort of banking ploy to make Barclays appear safer according to banking figures?

Does money actually in current accounts have more value to the banking system in terms of banking safety than money listed as available in credit/debit card accounts? or is it simply that they just want to profit now from the 3.9% transfer fee up front (and then hope that customers forget a minimum payment and also get stung for the 17.9% rate on the full amount etc)?

In trying that ploy another possibility is that customers are seriously cutting down on their use of plastic so it's an attempt to get the plastic being used again.

Edited by billybong

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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