Abbey Zero Credit Card - 0% balance tranfer fee! - HotUKDeals
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Abbey Zero Credit Card - 0% balance tranfer fee!

dr_badbeats Avatar
8y, 5m agoFound 8 years, 5 months ago
Great if you have exisiting balances on other credit cards as it is completely free....!

0% balance transfer fee
0% foreign exchange fee
0% cash advance fee*
£0 annual fee
0% on balance transfers for 6 months**
0% on purchases for 6 months
Up to 56 days interest-free credit.
Standard typical rate of 18.9% APR (variable).
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#1
Great card.
Heat added.
#2
Poor APR, expect if you screw up in any manner like not make minimum payment (you should have that on DD anyways) and/or if you take cash out on it the entire deal is receded. But good if you are organised and an experienced TARTer..
#3
Like the previous poster said, if you're a good Credit Card Tart, it's OK. BUT, the deal is only for 6 months......

ALSO, with the credit crunch worsening, how confident are you that you'll get a new deal in just 6 months time?

It's certainly not a HOT deal
#4
Great stoozing card by the looks of it. Transfer the balance to an egg card for a positive balance, then transfer into a high interest account or use to offset your mortgage.

Free money for 6 months, great.

Hot
#5
got one today, brilliant deal
#6
Some additional info missing from the OP:

*Some independent ATM providers may charge you a fee for cash withdrawals.

** To benefit from the promotional rate of 0% you must make your balance transfer(s) within one month of opening your account. You cannot transfer balances from other Abbey accounts (including Cahoot).
#7
jezzery
Great stoozing card by the looks of it. Transfer the balance to an egg card for a positive balance, then transfer into a high interest account or use to offset your mortgage.

Free money for 6 months, great.

Hot


I foolishly got rid of my egg card when it was clear - are there any other credit cards you are allowed to go into credit on to withdraw in this manner?
#8
kforshaw
I foolishly got rid of my egg card when it was clear - are there any other credit cards you are allowed to go into credit on to withdraw in this manner?


ALL MBNA cards allow you to have a credit balance. And alow you to transfer to a bank account. :thumbsup:
#9
Great - definitely hot! Just applied, but they don't tell you straight away if it has been accepted and the limit like others do. Will have to wait and see!

The thing that makes this really hot is the lack of balance transfer fee - most others charge 3% even on deals for just 6 months.

Thanks!
#10
I had a 0% CC with Abbey aka 'Santander' which they have only just closed despite me asking them over 10 months ago!!!!!!! In spite of them providing me with a 'settlement figure' and me paying the very same amount the very same day over the phone, they kept insisting on sending me statements for a couple of quid here and there....and god help you if you try to get through to their call centre to ask them what's going on......!! I have been fobbed off with'go into a branch and they can close it for you' - which after waiting for almost an hour on a Saturday morning(the only time i could go with work schedule) i discovered this wasn't the case. I have been put 'on hold' for over 40 minutes on more than one occasion, cut off, you name it, it happened to me. I was even privy to a so called chat about me by 2 of their advisers when one was passing me through to the other!! I wouldn't touch an Abbey card with someone else's bargepole even if it was lifetime interest free.
BTW - my 'closing balance' with them finally was 1p!! Yes, 1p...god knows how, but they got a cheque and a sharp letter begging them to close the card - which someone finally managed to be able to understand!!!
#11
florrydorry
I had a 0% CC with Abbey aka 'Santander' which they have only just closed despite me asking them over 10 months ago!!!!!!! In spite of them providing me with a 'settlement figure' and me paying the very same amount the very same day over the phone, they kept insisting on sending me statements for a couple of quid here and there....and god help you if you try to get through to their call centre to ask them what's going on......!! I have been fobbed off with'go into a branch and they can close it for you' - which after waiting for almost an hour on a Saturday morning(the only time i could go with work schedule) i discovered this wasn't the case. I have been put 'on hold' for over 40 minutes on more than one occasion, cut off, you name it, it happened to me. I was even privy to a so called chat about me by 2 of their advisers when one was passing me through to the other!! I wouldn't touch an Abbey card with someone else's bargepole even if it was lifetime interest free.
BTW - my 'closing balance' with them finally was 1p!! Yes, 1p...god knows how, but they got a cheque and a sharp letter begging them to close the card - which someone finally managed to be able to understand!!!


speaking as the partner of somebody who worked for the abbey credit card call centre, not sure how this happend. but then again some people will complain about anything, even if nothing happend.
1 Like #12
Kitten13
speaking as the partner of somebody who worked for the abbey credit card call centre, not sure how this happend. but then again some people will complain about anything, even if nothing happend.



I don't quite understand what you're getting at here???? I don't bother to post on this forum unless it is something i feel strongly about. I am not one of life's complainers and spend all my working days dealing with people who are unhappy about the way they've been treated or want me to help solve a problem for them, And believe me you would not like to have been on the end of this fiasco if it happened to you. Oh, i don't doubt your partner is a very good call centre worker...just the person who was transferring my call saw fit to **** me off. And yes, i did speak to a superviser who screened the call and rang me back about a week later to profusely apologise for that persons conduct. A bit of decency doesn't go amiss does it?
#13
Hot deal - VERY hot if you are planning to pay off the remaining balance in the next six months. Pretty cold if not - go for Virgins card instead.
#14
Abbey regularly feature in the money problems pages of the weekend papers. To pre-empt the nay-sayers, what I mean by regularly is ALL THE TIME.

18.9% interest on money you borrow - when you think about it, that's not really a deal is it?
#15
MrShed
Hot deal - VERY hot if you are planning to pay off the remaining balance in the next six months. Pretty cold if not - go for Virgins card instead.


Got that one too.
#16
I have had one of these cards when they first split from MBNA, and the service i received was beyond terrible. I have since managed to close it (Took me a while though). Whilst this sounds like a good deal on paper I wouldn't touch them again.
#17
Not sure about credit cards but from my experience working there in the past i would not touch any of their banking/saving accounts. I could write a book on my times there..
#18
beej


18.9% interest on money you borrow - when you think about it, that's not really a deal is it?


No but 0% is. Hot.
#19
agreed, this is hot due to the O% balance, you would be very hard pushed to find any CC giving this deal these days. plus 6 months not bad either, enough time to line up the next deal. But obviously it goes without saying you wouldn;t need to be spending with this card and make sure any balance is paid or transferred in 6 months.

definitley HOT in the current market.
#20
Kitten13
speaking as the partner of somebody who worked for the abbey credit card call centre, not sure how this happend. but then again some people will complain about anything, even if nothing happend.


speaking as a ........FOOL!

Abbey are on Watchdog all the time, they can't even manage to issue debit cards.

Plus if they are so great why is it your partner 'worked' for Abbey rather than 'still works for'?
#21
jezzery
Great stoozing card by the looks of it. Transfer the balance to an egg card for a positive balance, then transfer into a high interest account or use to offset your mortgage.

Free money for 6 months, great.

Hot


or buy premium bonds - 6 monthly chances
#22
Well if you are with it to transfer and credit the money to a bank account, even if you stuck the money into a standard 5% savings account for 5 months you'd still get over 2% interest in total - not bad if the credit limits are generous - it's free money *but* there could be hassle, and you have to be on the ball (set reminders on your computer, phone, etc, as to the date you have to clear the card).

Not a hot deal if you ever put paying bills off.

Three years ago you would have used the free money on a couple of deals like this to buy (deposit + initial mortgage payments) a run down property, do it up in the 0% offer time, and then sell for a massive profit 4 months later.
#23
kforshaw
I foolishly got rid of my egg card when it was clear - are there any other credit cards you are allowed to go into credit on to withdraw in this manner?


As I remember you could do that with "old" EGG cards only, please correct me if I am wrong, I have a "later" egg card with zero balance, would be great to use it this way ....
#24
I have this card. I go abroad a lot and its offers the BEST deal on foreign purchases.

The service I have received from them has been absolutely fine........
1 Like #25
Im sorry to say but ive voted cold as I cant stand credit cards and i dont think anyone should have one.... They are evil things lol. Sorry.
#26
oliverreed
speaking as a ........FOOL!

Abbey are on Watchdog all the time, they can't even manage to issue debit cards.

Plus if they are so great why is it your partner 'worked' for Abbey rather than 'still works for'?


is there really a need for the personal attacks on someone?
#27
a brilliant deal for those that are looking for 6 months free to pay some existing CC debt off, the last remaining of our debt is interest free anyway so no good to me but a hot vote for me as no other cards I've seen for ages do 0% with no fee for balance transfers these days!

good spot.
#28
Hushpuppy290
Im sorry to say but ive voted cold as I cant stand credit cards and i dont think anyone should have one.... They are evil things lol. Sorry.


Good job you put the lol in there, somebody might have took you seriously.
#29
In the current financial climate AND having heard the scare stories about Abbey on this thread, I guess the best thing to do is ignore them and signup for a credit card huh guys?

That's a credit card with the bank that has the worst customer service record known...
#30
OK here is my rant for people who are against credit cards...
Here is what I have been doing for the past 7 years.
I have abt 20 credit cards. with total limit to abt £ 70K.
I have been moving my money around for all these 7 years.
So you would say.. " Who has the time to do that?"
This is what I did with the cash :
- Lent some to the company I worked for (with small airplanes as collateral) - I charged them 15% for short term loan and 11 % for longer term loan.
- Pay down my line of credit (for investment properties) - saved the interest from (8% to abt 3% - because of the fee, etc)
Just with doing that... I've made/saved around £ 20K for the whole 6/7 years.
It takes me abt 3 hrs/mo to setup all the direct debit, pay the bills etc. So I can save/make £ 60/hr by doing that moving around. I dont abt you, but that's a lot of money for working part time :) -
So .. viva le credit card... when using it right, credit can be a great weapon...
#31
As many people have stressed this is a deal for only 6 month however those who are used to transferring balances on cards they know that it is the balance transfer fee that hurts (often around 3%) so although this deal is only for 6 month it stil is free credit, (as it is also 0% on purchases, foreign exchange etc.)

Make sure you transfer it out though at six months - so you don't have to pay any interest. There will still be balance transfer deals in six months, it may not be 0% but it's still worth getting the free credit while you can. the TinoP says you can make a little money from it.

p.s. I do work for a bank.
#32
oliverreed
speaking as a ........FOOL!

Abbey are on Watchdog all the time, they can't even manage to issue debit cards.

Plus if they are so great why is it your partner 'worked' for Abbey rather than 'still works for'?


He does still work for abbey, but had now transferd to a different department.
#33
Speaking as a stoozer.......hot ;)
#34
kforshaw
I foolishly got rid of my egg card when it was clear - are there any other credit cards you are allowed to go into credit on to withdraw in this manner?


Only Egg money cards allow you to withdraw a positive balance not the normal Egg credit card. :thumbsup:
#35
perrdl
I have had one of these cards when they first split from MBNA, and the service i received was beyond terrible. I have since managed to close it (Took me a while though). Whilst this sounds like a good deal on paper I wouldn't touch them again.


Me too! Absolutely terrible!!! worst CC in my life. I have been with Abbey for about 12 yrs and always had a cc with them, when they left mbna AWFUL!!

No one could tell me balance, when payment was due, still waiting on internet passwords...8 mths later!!! despite countless phone calls to people who can't understand you and read a script! been passed around lots of departments. No statements for months. Today I have just wrote a cheque for the balance and a letter to close the account. I have had enough. You can't even pay over the phone with an ABBEY!! debit card. Useless beyone belief!

Im even thinking of changing my current account their CS is just getting worse in branch and on phone.
#36
Interesting that this has come along just as the similar deal that MBNA did 9 months ago is ending (0% till July 08 and 0% fee). Sour grapes? Anyway, applied to move mine, was going to pay it off otherwise!
#37
octobergirl
or buy premium bonds - 6 monthly chances


Only 5 chances actually - as your premium bonds have to be in at least 1 full calendar month (The 1st of the month to the to 30th) before being eligible for a draw. Also, the card needs paying off before the 6 month 0% is up, therefore you'll need to cash the bonds in early before the next draw (to ensure you get the cash in time), thus making only 4 eligible draws.

Still worth a punt though probably!
#38
JaimeC
Me too! Absolutely terrible!!! worst CC in my life. I have been with Abbey for about 12 yrs and always had a cc with them, when they left mbna AWFUL!!

No one could tell me balance, when payment was due, still waiting on internet passwords...8 mths later!!! despite countless phone calls to people who can't understand you and read a script! been passed around lots of departments. No statements for months. Today I have just wrote a cheque for the balance and a letter to close the account. I have had enough. [COLOR="Red"]You can't even pay over the phone with an ABBEY!! debit card. Useless beyone belief![/COLOR]
Im even thinking of changing my current account their CS is just getting worse in branch and on phone.


There's a reason for that. I had the same problem with HSBC (my nightmare CC) whose rules stated that if I missed a payment I could submit a late one (with a late fee) by phone, but I could not submit an early payment by the same method. The whole system stank of making life awkward to pay on-time thus incurring late fees. The result was a monthly 40 mile round trip to their nearest bank. NEVER AGAIN
#39
Has anyone actually had their application processed ?

Over a week ago and nothing....

Tried ringing the lemons....OMG talk about the worst call centre possible......these idiots could'nt even use the reference number the website gave me.....after been passed around 5 different depts I gave them the middle finger and put the phone down.

Be warned as others have said they ARE A COMPLETE NIGHTMARE !! :x
#40
I got mine through quite quickly, the main problem is that they won't tell you what your Credit Limit is until you sign the agreement and get the card which I think is a joke. I phoned them and they said that's the way all their cards work!

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