23 months 0% on purchases or Balance Transfer with no BT fee - Santander 123
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23 months 0% on purchases or Balance Transfer with no BT fee - Santander 123

12
Found 29th Dec 2015
I know there is another good Santander credit card deal on this forum, but now you have a choice.

This new deal is for the Santander 123 credit card which has no balance transfer fee. There is a £24 per year product fee, though if you set up the direct debit from a 123 current account, the fee is waived for the first year.

This means that for 123 current account holders there is a total fee of £24 for the 23 months, which on (say) a £7000 balance transfer works out at about 0.35% total.

Additionally, because it has the same 0% period for purchases, you can still use it for purchases and get 3% cashback on petrol and rail travel, 2% at department stores, and 1% at supermarkets, so it's a decent cashback card too.

Obviously for a smaller balance transfer, the £24 fee has a larger % impact, but as other 24 month credit cards typically charge anything between 1.25% and 3%, then this is a good deal for any balance transfers totalling more than about £2000.

Credit to m1chaels on the stoozing forum for bringing this to my attention there!

The other deal is for 15 months 0% with no transfer or product fees at all, and is a very good deal if you don't want to pay any fees at all and don't need / can't profit from the extra 8 months or the extra cashback for purchases:
hotukdeals.com/tag/dea…914

You can also earn £12.62 cashback through TCB which, if successful, halves the cost of this card!

12 Comments

Excellent deal £24 for 2 years 0% on any balance by the looks of it!

£48 over 2 years actually equates to 1.60% BT Fee for a £3000 BT
Edited by: "Palwan" 29th Dec 2015

Original Poster

If you set up a direct debit from a 123 current account, and topcashback comes through, then it's less than £12 over two years.


Edited by: "gwapenut" 29th Dec 2015

Will they transfer into your bank account?

Original Poster

I don't think so

skgwho

Will they transfer into your bank account?



Transfer to the existing card and close that. You will get check from your existing provider; put that into your bank.

Palwan

Transfer to the existing card and close that. You will get check from … Transfer to the existing card and close that. You will get check from your existing provider; put that into your bank.



Not a bad idea. Is there anything stopping you transferring you money to a credit card which allows credit card withdrawals? And do you have to put it on a card which has a balance on it?

Original Poster

Normally the risk is that a BT creating a positive balance gets rejected - in those situations, I don't know whether the BT fee still needs to be paid.

However for this card there is no BT fee so perhaps it is risk-free to try.

Original Poster

Well, I know this will not be typical, but I've got the deal for better than nothing!

They messed up and charged me a 3% BT fee, and didn't respond to my secure message. So I complained and they refunded the BT fee and credited me £40 goodwill.

So cost for two years for me = £24 - £12.62 TCB - £40 compensation = -£28.62 (profit).
Edited by: "gwapenut" 8th Jan 2015

Customer service? I can't get through to them at all on the phone. also got given low credit limit out of the box. Assume I can ask for it to be raised but if not....worthless. Will see...

Very low credit limit compared to other cards I have had in the past and they won't increase it for at least 6 months. Absolutely worthless.

Original Poster

I suppose it all varies. I already had another card with them, 7K limit, and they also gave me another 7K on this card, which is fab.

Am hoping when my previous card BT runs out in June that I can close it and combine that credit limit onto this new card to get 14K total, and then stooze some more.
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