scaramanga Posted June 13, 2006 Share Posted June 13, 2006 Amex have today withdrawn zero balance transfers on their credit cards they will imo be the first of many....... credit tightening bring it on.... Quote Link to comment Share on other sites More sharing options...
planit Posted June 13, 2006 Share Posted June 13, 2006 Amex have today withdrawn zero balance transfers on their credit cards they will imo be the first of many.......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. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted June 13, 2006 Share Posted June 13, 2006 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 Quote Link to comment Share on other sites More sharing options...
Rachman Posted June 13, 2006 Share Posted June 13, 2006 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... Quote Link to comment Share on other sites More sharing options...
planit Posted June 13, 2006 Share Posted June 13, 2006 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)? Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted June 13, 2006 Share Posted June 13, 2006 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. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 13, 2006 Share Posted June 13, 2006 I was hoping this would be a thread about jammie dodgers! Quote Link to comment Share on other sites More sharing options...
backtoparents Posted June 13, 2006 Share Posted June 13, 2006 I was hoping this would be a thread about jammie dodgers! Just for you Quote Link to comment Share on other sites More sharing options...
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