Base rates

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Moscow Mule replied

5 March 2009, 16:16
Originally posted by Cyberman View Post

If you think that those are good deals then you really are financially illiterate.
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jmo21 replied

5 March 2009, 15:26
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.
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pmeswani replied

5 March 2009, 15:09
Originally posted by Cyberman View Post

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).

Last edited by pmeswani; 5 March 2009, 15:44. Reason: Correct a typo.
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Bagpuss replied

5 March 2009, 14:52
I made a few K off interest free credit cards, I would explain but it's far too complex for you

Last edited by Bagpuss; 5 March 2009, 15:11.
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Cyberman replied

5 March 2009, 14:31
Originally posted by Bagpuss View Post

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.
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Bagpuss replied

5 March 2009, 14:21
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)
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Mustang started a topic Base rates

5 March 2009, 14:13
Base rates

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?
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