How to pay?

foodkateyk

Do we use our savings in ISA's etc or should we put the whole lot on credit card and then pay it off once our ISA' s have matured and we have received all our interest payments for the year?
Wedding is in May but interest won't be fully piad on various savings until July.
Please help - am all of a muddle.

IWantToBeFree_2

Can you get a credit card with a 0% purchases period? If not, I would recommend that you get the money out of the ISA's before you have had the interest added on, as the interest you will pay on your cards will exceed the interest in your ISA and you will be worse off anyway.

I would recommend paying for as much as you can on credit cards but paying them off within the normal 56 day interest free period (which you get on most cards) so that you pay no interest. This will mean that you are protected for payments over £100.

Noctu

IWantToBeFree took the words right out of my mouth!

morg_monster

yes only spend on credit cards if the card is 0% or you can pay them off in the interest free period (which just to clarify is UP TO 56 days, not 56 days for all purchases, isn't it?)
only exception might be if you say had many years of ISA's adding up to like 20k+ or something, and withdrawing some money from them would mean you didn't get interest on the whole lot, although really you only needed £5k. That might possibly make it worth paying the interest on the credit card, but you'd have to work it out carefully!