advice needed please - getting cash from 0% credit cards

NickX

noomski wrote: »

So I should transfer the cash through to my current account regardless of whether they do take cards to avoid their merchant fee?

Well ask the dealer first, they may not charge you the merchant fee, but my own experience with car dealers is that if they don't charge the merchant fee then you probably didn't beat them down to their best price in the negotiations.

noomski

Well ask the dealer first, they may not charge you the merchant fee, but my own experience with car dealers is that if they don't charge the merchant fee then you probably didn't beat them down to their best price in the negotiations.

Hehehe, Sneaky observations there NickX. That's a shrewd move alright. :cool:

I think you may have missed post #16.

So, YorkshireBoy, You reckon I should give up on the capital one card and get the Virgin card instead. However am I right in understanding that the Virgin card is another SBT card, just like the Egg one. So.......Do I really need the Egg Money card if the Virgin card can be used to transfer £5000 directly to my current account.

YorkshireBoy

noomski wrote: »

So.......Do I really need the Egg Money card if the Virgin card can be used to transfer £5000 directly to my current account.

Already answered in (my edit in) post #2.

NickX

noomski wrote: »

Do I really need the Egg Money card if the Virgin card can be used to transfer £5000 directly to my current account.

No you don't need Egg Money if you are just using Virgin to Super Balance Tansfer to your Current Account.

You seem quite set on using Egg Money. This is a more complicated route because it requires 2 Credit Cards, the 0% card and the mule.

Just using the Virgin card is a more straight forward way of doing it and shouldn't cost you much more.

noomski

Right so here we go (drum roll please.....)

The Egg card is on it's way, nothing I can do now to stop it. I'll keep it as it's useful anyway.

I'll now get the Virgin card (This one) and transfer 5 big ones to my current account. I'm then in debt then on the virgin card but at 0% for the first 15 months. The money can sit in my current account earning me interest while I hunt down my motor. I've then got 'Cash on the hip' for when I find the one I want.

Then over the next 15 months I pay off the virgin card and the only thing it's cost me extra is the balance transfer fee??

NickX

noomski wrote: »

Then over the next 15 months I pay off the virgin card and the only thing it's cost me extra is the balance transfer fee??

Sounds like a plan :beer:

Egg Money could be useful in the future for muling purposes so don't worry that your not using it.

OK you've taken a hit on the the Balance Transfer fee, but with the lure of those used notes, you should be able to get a nice discount on your dream machine

noomski

WooooHoooo,

I feel like break dancing

:dance::hello::j

YorkshireBoy

First minimum payment £155 (so you're down to £4,845 in your bank to start with )
Subsequent minimum payments £25 each
0% intro period ends on 15th statement date
Set up a minimum payment direct debit
Do not breach the T&C's or you'll lose the 0% rate and end up with your car on 15.9% APR

noomski

Do not breach the T&C's or you'll lose the 0% rate and end up with your car on 15.9% APR

Oooh now this sounds interesting. In what ways might I break the T&C's? Just not making the minimum payments, or other ways too?

Edit: Ok i think i found it: http://uk.virginmoney.com/credit-card-v3/popup/summary.html

Thanks guys you've been a massive help