Credit Card Tarting

Kerrp30

Hi,

Was considering buying a car and using a credit card as a way of getting 0% finance.

If i understand this tarting thing, then I get a 0% for purchases first then balance transfer to 0% cards for the reminder.

Am I correct?

Regards

Paul

jd87

That's correct. Make sure you will be able to get a 0% balance transfer card though, only do it if you are sure you have excellent credit - good income, no defaults, already use credit cards.

not_loaded

1) A car retailer will almost certainly charge for you using a credit card. That will be a percentage of the card debit.

2) Are you 100% sure that 0% card offers will continue for years to come?

3) Will you continue to be approved/accepted for 0% cards?

Any

As already said, car dealership will either charge you for using credit card or will refuse the payment all together.
So what you would need is Super Balance Transfer card that allows you to transfer cash into your current account under the same conditions as for normal balance transfer (0% interest for certaing period, only 3% fee for transfer). MBNA (Virgin card, MBN), Post Office and one more card offers this option.
What is your credit rating? Do you already have some cards? When did you apply for one last? Have you ever missed a payment?

NickX

Any wrote: »

As already said, car dealership will either charge you for using credit card or will refuse the payment all together.
So what you would need is Super Balance Transfer card that allows you to transfer cash into your current account under the same conditions as for normal balance transfer (0% interest for certaing period, only 3% fee for transfer). MBNA (Virgin card, MBN), Post Office and one more card offers this option.

I agree that the Super Balance Transfer route usually works best, but it is worth checking with the car dealer first. Their surcharge is usually of a similar magnitiude (i.e. about 3%) so if they do accept the card the fee is comparable to doing a Super Balance Transfer. Also, it is not unheard of for the car dealer to waive the fee particularly if their is still a margin of movement left in the deal for them.

credit-card-tart

I have been moving money around for about 5 years, (hence my name).

I started off moving between 0% balance transfer cards, however there is now a fee to do this, so I now use 0% on purchases. I take out a new card around 3 months before the 0% finishes on my existing card. I then use this new card for all spending, but only pay the minimum balance. The spare cash then goes on the card that is due to finish the 0%.