I seen It all now.

[Roadrage]

Hey just noticed some junck mail from yesterday I forgot to bin.

One was a credit card jobby.

so just looked as Im afterter a new card with a good transfer rate.

so I ave a quick look.

I have seen some bad card rates but this one takes the piss


purchase rate of 44.9 % arp

bet they see the muppets coming that take on one of them.

Thats got to be a record for silly intrest rates

[DennisTheMenace]

My card never gets used , dont know the APR on it .

[docevi1]

by contrast to DTM, I use my credit card all the time, and still don't know the APR.

I bet the bank don't like me either, I pay my bill either early, or on the day I get the bill Never been charged interest in the 3years I've had it

[joolzb]

There's some worse than that, I was told recently that one bank was charging nearly double that. It's normally the people who have problems getting credit that usually get stitched up and further into debt.

[tvrbob]

How to make £1k out of nothing for approx 1 hrs work.

Take out £15k cash loan on card one. Interest to be paid from day one. Invest £15k in safe guaranteed return account. Transfer balance to a card offering interest free period on transfers. Transfer to another card before interest begins. Repeat as required. Wait until investment provides £1k interest. Close investment account and pay off credit card.

Free money and very easy to do.

[joolzb]

tvrbob said:

Wait until investment provides £1k interest.

Sounds pretty good but what's the typical kindda period that you have to wait for?

Also it's becoming more difficult to keep transferring from one credit card to another for the free interest scam, I believe they're trying to tackle this by lowering your credit rating.

[Jim'schim]

docevi1 said:

by contrast to DTM, I use my credit card all the time, and still don't know the APR. I bet the bank don't like me either, I pay my bill either early, or on the day I get the bill Never been charged interest in the 3years I've had it

The bank won't mind, they get a percentage of the purchase price from the places you're using your card. They're a bank, they don't lose money

[Roadrage]

tvrbob said:

How to make £1k out of nothing for approx 1 hrs work. Take out £15k cash loan on card one. Interest to be paid from day one. Invest £15k in safe guaranteed return account. Transfer balance to a card offering interest free period on transfers. Transfer to another card before interest begins. Repeat as required. Wait until investment provides £1k interest. Close investment account and pay off credit card. Free money and very easy to do.

I know I do it all the time.
just was amazed that they can get mugs to pay an arp that high.

[tvrbob]

joolzb said:

tvrbob said: Wait until investment provides £1k interest. Sounds pretty good but what's the typical kindda period that you have to wait for? Also it's becoming more difficult to keep transferring from one credit card to another for the free interest scam, I believe they're trying to tackle this by lowering your credit rating.

Window of opportunity is closing fast. I don't think it's viable any more. What I found was that some companies were starting to charge a transfer fee. Always small print so be careful if you're thinking of having a go. It took about 2.5 years to work. I know it's a long time but it didn't cost anything and it was fun choosing which card would be my next victim. No moral issue either because these companies are planning to screw people big time.

[tinyj]

I'm sure I read somewhere that the guy in charge of Barclaycard actually uses a different credit card with a lower APR than his own - doesn't that tell you something??