Halifax scam?

During December Halifax were running a promotion for existing Halifax One credit card holders of 0% on balance transfers for 6 months.

Thinking this was quite a good offer I filled out the form and returned it to the Halifax 2 weeks before the deadline date for applications, to give them plenty of time as it said 5 days were needed to process the application.

But of course nothing happened. The balance from my other card wasn’t transferred and the deadline date ellasped.

I wasn’t too bothered really but then last week I got another letter from the Halifax offering 6.95% on balance transfers until the balance was paid off. Now call me a synic but at a rate of 0% the Halifax makes no money, yet at 6.95% it does. So surely it’s in the Halifax’s interest not to process applications under the first promotion in the hope customers will reapply under the second?

Of course I’ve no proof this is the case but it’s very convienient for the Halifax.