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    • Hamsto
    • By Hamsto 27th Jul 16, 11:24 AM
    • 1 Posts
    • 0 Thanks
    Hamsto
    0% credit card not been allocated enough credit to pay off loan
    Hi,

    I have a settlement figure from a loan of about £5500, I want to shift this debt from the loan to a 0% credit card. However the credit card has given me short of the amount at £3700.

    What would be best to do get another 0% credit card for the remainder of the amount, wary this may damage my credit score?

    If I don't pay off the figure in full and pay off the £3700 I will just get a shorter remainder period and still be paying the loan amount of £150 a month. What would be my best option?

    Thanks
    • zx81
    • By zx81 27th Jul 16, 11:28 AM
    • 9,321 Posts
    • 9,144 Thanks
    zx81
    If you can get another 0% card, then do that.
    • R_Ling
    • By R_Ling 11th Oct 16, 2:06 PM
    • 1 Posts
    • 0 Thanks
    R_Ling
    Money transfer - can my partner do it for me?
    Hi - was just after some advice.
    I have been declined whilst applying for a money transfer credit card. I was wondering if my partner could apply for one, transfer the cash to me and I pay her back over the duration of the 0%. Is there anything wrong with that?
    • zx81
    • By zx81 11th Oct 16, 2:17 PM
    • 9,321 Posts
    • 9,144 Thanks
    zx81
    Only for your partner if you change your mind about paying her back.
    • Bossworld
    • By Bossworld 11th Oct 16, 9:39 PM
    • 253 Posts
    • 144 Thanks
    Bossworld
    Virgin Money 32 month money transfer card
    Just taken this out for approx £6k, over 32 months.

    I toggled the option for them to set up a direct debit for the minimum.

    Now, I was planning on paying back £200 a month, which squares it off by 32 months. However, I could do with a bit of guidance.

    I have a share save type scheme that will pay a minimum of £5k in less than 2 years time.

    I reckon I can treat this Virgin Money card as almost an advance on that share save money, and in doing so, only pay back around £60 a month and pay the complete balance once the sharesave money comes back in?

    If that's going to work, I see from another site that the initial fee on the card (1.69% is added onto the balance). Will the minimum payment DD take this into account, or should I pay this 1.69% off straight away separately?

    many thanks
    • YorkshireBoy
    • By YorkshireBoy 11th Oct 16, 10:11 PM
    • 28,271 Posts
    • 16,096 Thanks
    YorkshireBoy
    If that's going to work, I see from another site that the initial fee on the card (1.69% is added onto the balance). Will the minimum payment DD take this into account, or should I pay this 1.69% off straight away separately?
    Originally posted by Bossworld
    Yes it will.

    A word of warning...be sure to check your first statement to ensure it states the payment will be collected by DD. If it doesn't, pay by other means and check the second statement for the same message. Missing a payment will mean you lose the 0% rate and also waste over £100 in fees!
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