Base rates

[Mustang]

Soooo.......now that the Bank of England base rate is at 0.5%, what interest rate do you think will be the cheapest on offer for a loan?! Who with?

Personally, I cant see the banks offering decent rate loans. Can anyone?

 

[Bagpuss]

Personal loan rates if anythting seem to have gone up. Only the Governemnt is willing to loan money for nothing.
Having said that the best deals are on so called 0% credit cards (usually 3% fee for balance transfer)

 

[Cyberman]

Personal loan rates if anythting seem to have gone up. Only the Governemnt is willing to loan money for nothing.
Having said that the best deals are on so called 0% credit cards (usually 3% fee for balance transfer)

If you think that those are good deals then you really are financially illiterate.

 

[Bagpuss]

I made a few K off interest free credit cards, I would explain but it's far too complex for you

 

[pmeswani]

If you think that those are good deals then you really are financially illiterate.

Really? So a CC company that charges 16% interest is better than one that offers 0% over a fixed period of time? To use Bagpuss' example... are you saying that a Loan with a monthly interest rate (of whatever it is at the moment... about 8% or above?) is better than a 0% interest fixed period credit card?

I had been reluctant to get a new Credit card until I had changed bank accounts. Tried to get a Capital One 8% card, only to find that they had (at the time) a hidden clause in their offering whereby you had to be a home owner to qualify.

I'm now with HSBC and have a 14 month interest free period on my Credit Balance Transfer (with the obligatory 3% transfer which worked out at about £130). When it gets to the end of the period, I will either pay off as much as I can as a lump sum, or transfer it back to Alliance & Leicester (assuming they have another 0% transfer offer at the time).

 

[jmo21]

0% credit cards are very handy.....unless you make an arse of it!

I've just secured a new 6 month 0% on purchases card with £3500 limit, going to use that towards my new car and let the £3500 offset my mortgage a little longer.

 

[Moscow Mule]

If you think that those are good deals then you really are financially illiterate.