Alliance & Leicester Diamond

...off for information about the Alliance and Leicester Diamond credit card after reading about it on one of the internet pages.
There are all different types of credit card with this company but I decided I wanted lower interest for a fixed period and to lower my payments.

I filled in my details on-line and within four days I got accepted by post.
Believe it or not my credit limit was £5,000, I thought that was quite ...
...small print Iam still unsure what to do.
I was thinking of transferring my existing balances off my other cards to this account as you get low interest charges, they are 6.8% APR if you close the old accounts down altogether.
This stays at this fixed term until you have paid the balances off.
If you transfer your old cards to this one and leave the card accounts still open , then the interest APR is 8.8%, apparently still ... more

Should I stay or should I go ,remember the song from The Clash?
I can't make my mind up whether to stay with my usual credit card company or go.
Sometimes the grass isn't always greener. it could be like changing from British gas to another Gas Company.

Let me expalin what I'm talking about.

I sent off for information about the Alliance and Leicester Diamond credit card after reading about it on one of the internet pages.
There are all different types of credit card with this company but I decided I wanted lower interest for a fixed period and to lower my payments.

I filled in my details on-line and within four days I got accepted by post.
Believe it or not my credit limit was £5,000, I thought that was quite high to start with.
After reading all the small print Iam still unsure what to do.
I was thinking of transferring my existing balances off my other cards to this account as you get low interest charges, they are 6.8% APR if you close the old accounts down altogether.
This stays at this fixed term until you have paid the balances off.
If you transfer your old cards to this one and leave the card accounts still open , then the interest APR is 8.8%, apparently still lower than most banks.

If you decide to spend on the card the APR becomes 13.8 on goods bought.
There is no annual fee either.

I rang customer service to get a quote for the transfer of the balances expecting reduced payments.
I wasn't surprised to hear that they would cost me more per month than what I was originally paying, that is because the interest is charged over three years is what she said.
My payments were going to cost me £10 a month more but would get paid off quicker.
What I was really wanting is to reduce my outgoings.

Anybody worried about applying for a card from this company probably needn't worry , as my credit history isn't fantastic and look what they offered me.

I'm still thinking about it. Can anybody give me advice on who is best, I really would like to lower my monthly payments but don't want a loan if I can help it.

 

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