Couple of grand cash?

superdon

OK, been tranferring balances around for a few years basically to cover old debt and spending. All worked very nicely and back to pretty much no card debt now. We also have several thousand pounds in savings, for safe keeping really.

Now, we want to make some improvements to the house, about 4k's worth. We dont mind spending a couple of grand out of the savings, but want to keep the rest there if possible.

So, was thinking of raising the other couple of grand on cards.

Hows best to do this? We would need to get the 2k as cash, and the plan would be to pay this off fairly quickly, over maybe 8 months. We have a few cards between us already open (Barclaycard, Nationwide, Mint, HSBC).

Like I say, we really want the leave the cash in savings, for lots of reasons - new career etc and have cheap debt elsewhere.

Bisoy

You are looking for a card that probably has got a longer 0% balance transfer and you may looking for any of the MBNA branded cards e.g Virgin card, Mbna platinum, A&L etc. Any of these cards will allow you to transfer your credit limit straight into your current account. They have what the stoozing community called a SBT facility. You just need to make sure that you set up minimum payments.

superdon

any particular cards or deals I should look at?

midnite

Another option is to look at the ulster bank gold card supplied by Royal bank of scotland. This is a min £3K credit limit, zero fee and 0% BT for 6 months.

No super balance transfer but if you have an egg money card then you can use this to BT to and then from there to your current account.

You could also look at the abbey zero card

~Chameleon~

superdon wrote: »

any particular cards or deals I should look at?

Bisoy wrote:

you may looking for any of the MBNA branded cards e.g Virgin card, Mbna platinum, A&L etc. Any of these cards will allow you to transfer your credit limit straight into your current account.

^^^^^^^ All those are currently offering 0% BT deals

superdon

Ta - so http://www.alliance-leicester.co.uk/credit-cards/alliance-and-leicester-credit-card.aspx would be a good one? 12 months 0% with 3% fee. This would allow directly to put a balance of 2k on my current account.

Is this one a tricky one to get? My credit record is fine.

superdon

Just popped home for lunch and Barclaycard have sent me a letter offering to change my Platinum card to a charity card. This gives 0% for 12 months (2.5% fee). I dont use the Barclaycard, its just a backup.

Would this card allow a transfer to a current account? If not are there any other methods to take the 2k out?

If so I presume as I already have an account/card with them this might be easier or quicker?

NickX

superdon wrote: »

Would this card allow a transfer to a current account? If not are there any other methods to take the 2k out?

No, Barclaycard do not allow transfers to a Current Account.

You can get round this by using Egg Money as a mule card.

superdon

Mmm, dont have an egg card any more!

SiuLoong

superdon wrote: »

Mmm, dont have an egg card any more!

Either way would need to have been Egg Money rather than the Egg Card..

CHIHUAHUA

Idid the same thing but with a mixture of credit card BTs and a good loan deal - i found that i didn't need all the money at once and used the time to get the best deals and obviously put any that i didn't need to shell out straight away into savings - it was a 20K job but didn't have to remortgage and a year later i've paid off a few grand on the CCs and now just have the loan for another 3 years :eek:

Do ou need all the £ at once or could you get it together a bit at a time and maybe supplement with a cut in your regular outgoings? - this helped me knock down the final bill loads
I also sourced loads of the stuff we needed online and saved a fortune.
Watch out for the BT rates too some of them make it hardly worth borrowing/stoozing these days.
Hope it goes well!:D