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scaramanga

Balance Tarts Run Out Of Jam

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Amex have today withdrawn zero balance transfers on their credit cards they will imo be the first of many....... credit tightening bring it on....

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Amex have today withdrawn zero balance transfers on their credit cards they will imo be the first of many....... credit tightening bring it on....

I think this is definately one for the credit tightening thread. If the others follow then this will be the end of the road for many people who have alot of unsecured borowing.

On the money savings expert site there seem to be many people who are just managing to stay afloat. When you look at the debt they post, some of it is often at 0% on CC's, change this to 18% APR and they will not be able to afford the repayments.

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I got a thing from capital one the other day - they're charging additional things at cash rate - including gambling stuff...

Wonder how many people they'll catch out and if they're the only ones

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I think this is definately one for the credit tightening thread. If the others follow then this will be the end of the road for many people who have alot of unsecured borowing.

On the money savings expert site there seem to be many people who are just managing to stay afloat. When you look at the debt they post, some of it is often at 0% on CC's, change this to 18% APR and they will not be able to afford the repayments.

Most of them have been on 2% transfer charges for balances for a while. The problem is that MSE people pay off the minimum and run up debts - then the try to get away with it and it's always circumstances, never their own imprudence (save for the odd person being honest with themselves) - it's always those nasty banks that let me spend money, that let me live a £60K lifestyle on a £15K income, [insert stereotype here...]

I am all for helping out the people who fall on hard times but if you come to the table, do it with clean (or at least not ignorant) hands...

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Most of them have been on 2% transfer charges for balances for a while. The problem is that MSE people pay off the minimum and run up debts - then the try to get away with it and it's always circumstances, never their own imprudence (save for the odd person being honest with themselves) - it's always those nasty banks that let me spend money, that let me live a £60K lifestyle on a £15K income, [insert stereotype here...]

I am all for helping out the people who fall on hard times but if you come to the table, do it with clean (or at least not ignorant) hands...

If there was 2% transfer charge on a 0% 12 month deal then that would be an average of 2% APR they would be paying.

But if the 0% was pulled completely and the borrower was put on 16% APR then this would cause problems.

Or have I got this all wrong (no interest/ignorant of CCards)?

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I got in just before they started introducing fees at the beginning of this year. I put k5 on a balance transfer at 0% in HSBC (carried over from MBNA 0%), guarenteed till November, I then stuffed 3k into an HSBC ISA, and the rest into an Alliance Leicester on line savings account. I especially like watching HSBC give me money each month. The day before the deal runs out, I will pay them back. I have basically had 5k of interest free cash for nearly year and will get about £120 in interest. :) I'm doing my bit for all those poor sods that have been screwed by the system. B)

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  • 301 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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