Interest free balance transfer credit card with a 1.5% fee for 21 months @ Lloyds TSB possible £25 cashback
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Interest free balance transfer credit card with a 1.5% fee for 21 months @ Lloyds TSB possible £25 cashback

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Found 8th Jan 2013
I believe this is slightly better than the Nationwide deal.

Minimum repayments are just 1% (same as NW).

Balance transfer fee is 1.5% after 50% is refunded, slightly less than the Nationwide fee.

Interest free period is for 21 months (1 more than Nationwide)

Thanks to NikkyWikky who has pointed out you may also get £25 cashback from moneyexpert:
moneyexpert.com/cre…fer
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Platinum Credit Card product features and benefits

0% interest for up to 21 months on balances transferred within the first 90 days (3% fee)*.
Apply before 23rd February and we will refund 50% of your balance transfer fee for balances transferred before 23rd March 2013. Minimum balance transfer amount is £100.
0% on purchases for the first 3 months.
Representative 17.9% APR (variable).
Up to 56 days’ interest-free period on purchases (from the date of transaction) if you pay your balance in full and on time each month.

How the Fee Refund Works
The standard balance transfer fee of 3% will be applied when a BT is processed. For example, if a customer transfers £1,500 a BT fee of £45 will be applied.
We will refund 50% of that i.e. £22.50 into the customer's credit card account within 30 days of the qualifying BT completion date. So the more you transfer the more you will benefit, because your refund will be higher.

* Minimum balance transfer is £100 and is subject to your credit limit. Balances must be transferred within 90 days of opening the account and your promotional period starts from the date we open your account. If you don’t pay off your balance in full, any payments you make will pay off Transactions charging the highest rate of interest first, and so on down to the lowest rate of interest in the following order: Cash Withdrawals, Purchases, Balance Transfers and Cheques, followed by the default charges. Terms and conditions apply to all Lloyds TSB credit cards benefits. Full details will be sent with your card. After each introductory period ends you will be charged at the appropriate standard rate. Apply before 23rd February 2013 and transfer balances from as many cards as you like before 23rd March 2013. We’ll charge our standard 3% fee for the balance transfer when you apply, and refund 50% of it within 30 days of your balance transfer going into your credit card account. Your refund will show on one of your next two statements as ‘50% balance transfer fee refund.'
Good deal, shame I already have a LTSB card though.
Thanks gwapenut, it's slightly cheaper fee and longer than Nationwide, Heat added even that I don't need to transfer anymore balance until Sep 13 now.
Edited by: "Amerviv" 8th Jan 2013
Now, can anyone answer me the following. I found out last week that I have a "credit policy decline" marker on my account at Halifax, for no bad reason apart from the amount of credit I am stoozing on cards at the moment (no missed payments, etc). I also only have an easycash basic current account at Halifax, so that may even be the reason rather than all my credit.

Given that Halifax/BOS and Lloyds TSB are slightly linked (just like Natwest and RBS are linked) then does this mean that I will automatically be declined for this card too?
Amerviv

Thanks gwapenut, it's slightly cheaper fee and longer than Nationwide, … Thanks gwapenut, it's slightly cheaper fee and longer than Nationwide, Heat added even that I don't need to transfer anymore balance until Sep 13 now.


Same here, current 0% runs out end of september
Hotter than the Nationwide offer for sure! have some heat.
With the £25 cashback this deal would be the BEST on the market for 0% BT CC. 1.5% fee for 21 month, So for transfering £2000 to this card you'd pay only a £5 for 21 month after cashback and 50% refund fee if you apply before 23rd/Feb/2013.
"Apply before 23rd February and LTSB will refund 50% of your balance transfer fee for balances transferred before 23rd March 2013."
Why pay more! Thanks Nikky & gwapenut. It's getting better and better with the credit cards offers.
someone confirm that halifax cards CANNOT be transfered onto this?
idbroadhurst

someone confirm that halifax cards CANNOT be transfered onto this?


It's clearly says in the: Information about Balance Transfers:
"Balances must be transferred from non-Lloyds Banking Group credit cards or store cards within 90 days of account opening."
And Halifax is a member of Lloyds Banking Group.
"Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc (members of Lloyds Banking Group), are authorised and regulated by the Financial Services Authority." For Halifax :
Halifax is now part of Lloyds Banking Group

Did you know that Halifax is now part of Lloyds Banking Group?

Well, as part of the changes as a result of the merger between the two banks, we can now offer you access to a wider careers portal, with more opportunities.
You'll now be transferred to the Lloyds Banking Group careers website, where you'll be able to complete your journey.

lloydsbankinggroup-careers.com/vie…tml

Edited by: "Amerviv" 9th Jan 2013
idbroadhurst you can try on one of the other cards in Nikki's link: moneyexpert.com/cre…fer
Yes, just avoid BoS, Halifax, and Lloyds-TSB - and don't confuse BoS with RBS, the latter being ok
Edited by: "gwapenut" 9th Jan 2013
Amerviv - can you let me know if the £25 tracks with MoneyExpert.com, I've never tried getting cashback from them so don't know if it worjks. Anyone ever got cashback from MoneyExpert.com?
Amerviv

idbroadhurst you can try on one of the other cards in Nikki's link: … idbroadhurst you can try on one of the other cards in Nikki's link: http://www.moneyexpert.com/credit-cards/zero-balance-transfer



tesco's it is then (got the others....gotta catch em all! :D)
I see the word "deal" several times, but can't see what the deal is.

Is this simply a credit card application with a good rate on balance transfers for people who can't afford to pay their credit off ?
It's much cheaper than the going rate for such transfers (50% less), whether you can't afford to pay your credit off, or choose not to and intend to make a profit of anything from virtually nothing to more than £500, depending on circumstances.

"Much cheaper than the going rate" - isn't that what a deal is, in the context of goods or services?



Edited by: "gwapenut" 9th Jan 2013
Denied! But voted hot!
People could probably pay off their cards but with the option to get 0% 'deals' like this may choose not to. A cheap loan for some.

Tempted but will probably wait until nearer the end of my existing 0% promotions.
How do I transfer to my current account
maverikk

Denied! But voted hot!


Denied as well...but always have been denied with LLoyds...which if you knew what my income and current bank balance is laughable.
Hodge00079

People could probably pay off their cards but with the option to get 0% … People could probably pay off their cards but with the option to get 0% 'deals' like this may choose not to. A cheap loan for some.Tempted but will probably wait until nearer the end of my existing 0% promotions.



How is it a cheap loan if it's for a balance transfer ? The reason these deals are offered, and continue to be offered, is that the bank/BS know that 75% of borrowers will continue to stay in debt, but with them and not another financial institution.

If people can't afford something, get a second job, or realise that it's out of their reach at their current financial level.

Apart form a house, which is out of most people cash buying range, what is it that people NEED to be in debt for ?

I use a credit card to book flights for work, internet protection on expensive items and then pay it off as soon as it appears in my account.
twinkle

Denied as well...but always have been denied with LLoyds...which if you … Denied as well...but always have been denied with LLoyds...which if you knew what my income and current bank balance is laughable.



Any ideas why - eg a large stoozepot ? Am still trying to decide whether I risk applying, all the signs are that I will not get my own deal!
Hi renderman, it can be a cheap loan.

eg. I bought my car using a credit card, loyalty points cancelled out the car company credit card handling charge, then balance transferred for 1% for 1 year. That was MY CHOICE instead of taking a loan out at 7%, or raiding my cash ISAs and losing 4% pa on those savings. Given that I paid 1%, instead of 4% (opportunity cost) or 7%, does that make me financially irresponsible? I think not.

And besides, if it helps anyone, in debt or otherwise, to save on interest and fees, then it is a good deal for them.

Oh, and what do people NEED to be in debt for? Cars (so they can do their job), weddings which need to be paid for (even the cheapest cost loads), solving temporary cashflow problems while waiting for guaranteed bonuses. Plenty of legitimate reasons.


Edited by: "gwapenut" 9th Jan 2013
Never had bad credit before, just applied and declined.... - **** hot deal thou!!!
renderman

How is it a cheap loan if it's for a balance transfer ? The reason these … How is it a cheap loan if it's for a balance transfer ? The reason these deals are offered, and continue to be offered, is that the bank/BS know that 75% of borrowers will continue to stay in debt, but with them and not another financial institution.If people can't afford something, get a second job, or realise that it's out of their reach at their current financial level.Apart form a house, which is out of most people cash buying range, what is it that people NEED to be in debt for ?I use a credit card to book flights for work, internet protection on expensive items and then pay it off as soon as it appears in my account.



you wouldn't understand. this deal is definitely not for you.
very hot deal!!
gwapenut

Any ideas why - eg a large stoozepot ? Am still trying to decide whether … Any ideas why - eg a large stoozepot ? Am still trying to decide whether I risk applying, all the signs are that I will not get my own deal!



No idea at all...must be ticking a box somewhere...fortunately I have the funds to repay my current transfer due in 2 months.
My rule of thumb is that the best balance transfer deals are typically just under 0.1% per month of the 0% period (knocking off a month for the waiting-around time), and preferably with a 1% minimum repayment rather than 2.5% barclaycard (otherwise you end up paying too much of it off over a 2 year deal).

So 1% for 12 months etc has been the usual kind of "best value" deal, or 2.2% for some of the 24 month barclaycard deals.

This Lloyds card works out at about 3/4 of the per-month fee of those deals, which is why I think it is hot. The NW deal is also hot. And best of all it is for a nice long time, so no faffing around for a while after going for this one.


Edited by: "gwapenut" 9th Jan 2013
renderman

I see the word "deal" several times, but can't see what the deal is.Is … I see the word "deal" several times, but can't see what the deal is.Is this simply a credit card application with a good rate on balance transfers for people who can't afford to pay their credit off ?



Nope.
you will make money by Stoozing. Put it in higher interest rate saving, or current a/c and pay it in full before it is due.
1.5% fee vs 4% interest you could get by saving it somewhere is a nor brainer ......
sound deal
Good deal.

To put some figures to it, if I have a £3,600 credit card balance to transfer, there’d be a £54 fee (or £29 after the cashback). That’d leave me with an interest free balance of £3,629.

Then, if I open a First Direct Regular Saver and pay £300 per month into it, I’d end up with £3,724 gross after a year. That gives me a £124 profit AND an interest free loan of £3,724 for a further 9 months. I could even put this into another savings account to earn further interest.

The most savvy people would use their current card for day to day expenditure, not luxuries, for a month or two before transferring.
Edited by: "marathonic" 9th Jan 2013
Bah

I clicked the wrong card in Moneyexpert.com and now when I select the right one and enter my details it says duplicate lead.

Anyone have any ideas when this will clear, or indeed how to clear it? Ive used another pc that has not been on that site and no such joy so its not a local cookie issue.

Cheers

Phill
Maybe send them an email explaining? They may take a few days to respond, but I think this deal will be around for a few weeks yet.

What if I have any queries?
Email creditcardcashback@moneyexpert.com and we will aim to respond within 5 working days.
Thanks for the post. I'll have a look at this later

Maybe send them an email explaining? They may take a few days to respond, … Maybe send them an email explaining? They may take a few days to respond, but I think this deal will be around for a few weeks yet.What if I have any queries?Email creditcardcashback@moneyexpert.com and we will aim to respond within 5 working days.



Thanks pal, I did a bit of a search around but could only see addresses to debt management!

Cheers

Phill
No problem, it was quite hard to find, under the cashback FAQ instead of the usual "contact us" pages
marathonic

Good deal. To put some figures to it, if I have a £3,600 credit card … Good deal. To put some figures to it, if I have a £3,600 credit card balance to transfer, there’d be a £54 fee (or £29 after the cashback). That’d leave me with an interest free balance of £3,629.Then, if I open a First Direct Regular Saver and pay £300 per month into it, I’d end up with £3,724 gross after a year. That gives me a £124 profit AND an interest free loan of £3,724 for a further 9 months. I could even put this into another savings account to earn further interest.The most savvy people would use their current card for day to day expenditure, not luxuries, for a month or two before transferring.



You will gain more if you put the whole lot of £3600 from the beginning in LLoyd Vantage account. It is currently pay 4% interest ...
pantaiema

You will gain more if you put the whole lot of £3600 from the beginning … You will gain more if you put the whole lot of £3600 from the beginning in LLoyd Vantage account. It is currently pay 4% interest ...



No, LLoyd Vantage account only has 3% now.
pantaiema

You will gain more if you put the whole lot of £3600 from the beginning … You will gain more if you put the whole lot of £3600 from the beginning in LLoyd Vantage account. It is currently pay 4% interest ...



Yeah, if you have the entire money from the start, the best thing to do is put the whole lot in a high interest, instant access account and filter money out of it and into regular savings accounts on a monthly basis.
nice deal
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