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longgone

Free To Borrow For 18 Months Doing The Card Swap Trick

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http://www.hotukdeals.com/deals/0-balance-transfers-for-18-months-no-fee-longest-no-fee-balance-transfer-credit-2201082?page=2#comments

no fees either

i did this about 15 years ago for about 5 years kept moving a 4k debt around and never paid a penny in interest

it would seem we are back to pre crisis levels of credit

is it actually worth spending my own money ?? , might book a holiday and get spending money on the card and transfer it

Edited by longgone

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Just as well the economy is recovering to allow all people to service their ever increasing debt, eh?

Bottom line is with ultra-cheap borrowing (for insiders) and next to no rates of return on anything remotely 'safe' to invest in, there is a lot of money seeking a return even if it means (mal)investing it into a risky venture. Also provides support for property - just about the only asset class that has consistently grown in the wake of the 2008 crisis right up to today (after an initial wobble).

As long as there's cheap money sloshing around the system, expect stupid stuff to keep happening.

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How much is the biggest sum it is possible to do this with?

up to 95% of the credit limit offered , they are actually paying you £25 at quidco to take the card in first place

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Just as well the economy is recovering to allow all people to service their ever increasing debt, eh?

, expect stupid stuff to keep happening.

could take a very, very long time to grind to a halt...it`s a huge system in play..

Edited by GinAndPlatonic

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0% deals on cash transfers make a lot of sense if the fee is reasonable. Why bother with a personal loan if you can effectively get a fixed rate of 3.5% (the cash advance fee) over 12 months and sometimes longer.

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This is just another symptom of the broken system. The one part of transferring balances that the 'system' forgot was that it should be compulsory to close the card from which the balance has come. The way it currently works (and has done for 15+ years) means that available credit is created on the card that used to have the balance on it.

I would suggest that the average credit card balance transferring user either doesn't have the control to pop it in the drawer/chop it up, or is actively seeking more borrowing because they cannot cope financially. Whilst it may remove interest from one balance they will simply splurge up another to transfer elsewhere later.

It's why some banks no longer offer credit card BTs. It doesn't address an individual's credit card debt problem. It just gives people a(nother) way around it and stops them having to think about it for 18 months.

But of course, as it appears that our world controllers are only just stopping short of admitting that money is worthless and it's all about credit, one can understand the realisation that someone can go nuts on debt and it matters not.

I fear that it is not the actions of the few in control that will make a long term difference, but the decision of every debt-ridden individual on the planet to decide to no longer buy into the system that ails them. Except that in their consumerist daze, it doesn't ail them. As long as they've got their latest overpriced everything then all is well. Credit is the new religion. Hop online and enter 12 'hail Apple' on any forum you choose and you'll be forgiven for your past failings. And then come back next month for more of the same.

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0% deals on cash transfers make a lot of sense if the fee is reasonable. Why bother with a personal loan if you can effectively get a fixed rate of 3.5% (the cash advance fee) over 12 months and sometimes longer.

you failed to notice there is no fee , the money is free

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