From: Anthony Ross 
Newsgroups: uk.finance
Subject: Charges on balance transfers of 0% balance transfer rate cards
Date: Sat, 06 Mar 2004 18:49:49 +0000

I have some questions about credit cards in general and 0% credit 
cards in particular. I am talking about cards issued to UK consumers.

1 - What is a balance transfer? Is a transfer of funds from my 
credit card to one of my bank accounts a balance transfer?
What's the meaning of charging for cash advances, but not for 
balance transfers? I can always transfer the money to my account and 
take the money out, so what's the point?
2 -   rates 
credit cards (is there any other authoritative website in this 
respect?). I went to check the details for the Barclaycard offer, 
and I couldn't see any reference to the charges to be paid for 
transfers (not the interest) in the pages explaining the various 
charges (@ 
). 
There is only a charge mentioned for cash advance payments. But then 
the small prints (@ 
) states:

"3.2 Charges

(a) We will charge a handling fee each time you or any additional 
cardholder make a cash withdrawal, make a balance transfer, purchase 
travellers' cheques or use a Barclaycard cheque. The handling fee is 
2% of the amount with a minimum fee of £2.00, except for Initial 
Visa where it is 2.5% with a minimum fee of £2.50."

So they are actually charging 2%-2.5% on each balance transfer. Is 
that what it says, or am I missing something here?

3 - If the answer to point 2 above is that there are in fact charges 
to be paid for each transfer, does something like a 0% interest + 0 
balance transfer charge credit card exist in practice? The small 
print for egg, for instance, do not seem to mention any charge for 
balance transfers.


If my doubts have already been answered and/or discussed , please 
feel free to refer me to the appropriate resources.

Thanks in advance,
Anthony