Credit Card - Best interest rate for large purchases pls?

lilyg

Can anyone let me know the best card interest rate for large purchases? Just tried Barclaycard Breathe but small print stated 0% (up to £5k) Looking to use for Kitchen/Bathroom up to £40k.

Any info very much appreciated.

YorkshireBoy

Barclaycard's £5K limit is for 0% balance transfers, not purchases...isn't it?

The maximum limit on MBNA cards is £50K, and you'd be able to transfer the cash directly to your current account at 0% for up to 16 months...but I'd imagine you're going to need a 6-figure salary to get anything like £40-50K on one card. Warning: you'll not get section 75 protection with this method.

lilyg

Thanks that's very handy. Why does section 75 not apply? I thought Martin was saying to buy things like kitchens in case the company went bust so you could use section 75?

YorkshireBoy

lilyg wrote: »

Why does section 75 not apply?

Because with the MBNA method described, you're not using the card to buy the kitchen.

Instead, you're transferring 0% cash into your current account and paying for the kitchen with your debit card, cheque, etc.

jamalfatty

I would very much doubt in the current climate unless you are extraordinarily wealthy (if you are, good times!) that you would get an initial limit on one card in excess of £40k