0% Intrest for 10 months?

GuyverX

Hi, sorry to ask a dumb question but i need some extra cash, i was wondering could i apply for a sainsbury credit card and simply withdraw the cash instead of purchasing anything and still get the 10 month interest free period?

"able to enjoy 0% interest on anything you buy with your card for the next ten months"

thx

magentadreamer

From what you've quoted it seems like it's a 0% on purchase cards so no you couldn't Bt the money. If the card is also 0% on BT's then you'd need a SBT card eg Egg, MBNA,Virgin and I think Mint to get the money into your account.

Also i suspect if you did a cash withdrawal from an ATM you'd be stung for high cash advance fee's - not too sure what Sainsburys one's are.

If you've not got an Egg card they have a 0% on BT's till October and you'd be able to get the money paid straight into your current account.

GuyverX

thx for the info

grumbler

GuyverX wrote:

... could ...simply withdraw the cash instead of purchasing ...
"able to enjoy 0% interest on anything you buy with your card for the next ten months"

Withdrawing money from a credit card is always a bad thing (with very rare exceptions). summary box :

Other Interest Rates Introductory Rate Monthly Rate Annual Rate
Purchases ___________0% for 10 months _1.240% ______15.94%
Cash Advances _______n/a ______________1.527% ______19.95%
Cheques _____________n/a ______________1.313% ______16.95%
....
Cash Advance Fee 2% (minimum £2)

The only way to extract cash from such card is Super Balance Transfer. See links Super BTs , Stoozing and Balance Transfers in the blue box above.