Special offer with MBNA bmi - 0% on purchases

galaxy105

I have just been offered a 0.0% until 5 November 2009 on all new card purchases completed before 30 June 2009.

There is apparently no fee.

So - what do I do / buy to get this vast amount of 0% cash into my account?

Should I be buying a load of Amex travellers checks?

It needs to show up as a purchase. Do Amex TC's show up as purchases or Cash Advances?

Any other tips?

chattychappy

Yeah I think that's what they want.. people to go wild a bit! TCs will appear as cash transactions, not purchases as should other similar transactions.

I suppose you could always consider making advanced payments to suppliers that accept them or bring forward any purchases that you were likely to make anyway. Do you have friends and the like that buy phone top-up cards for cash? You can buy them yourself and collect the cash....

BUT I don't think the credit long enough to get excited about. The main thing is, once you've used it is not to use the card between the end of June and November and remember your minimum repayments. If you do use your card in that time, you'll pay purchase interest on them as payments will be applied to the 0% stuff first. Put subsequent purchases on another card and pay them off.

I once knew a friendly hotel that would give you cash and put it through as a purchase. They charged 2.3% for this... the 1.8% they were charged plus 0.5% profit for them. You see there's the rub. For purchases the merchant is paying a fee. So I don't think there is any easy way of turning that facility into cash.

(Sometimes merchants "forget" and will do refunds in cash for purchases made on cards. But that's not going to get you more than a few quid and is going to be hit and miss...)

Any

galaxy105 wrote: »

I have just been offered a 0.0% until 5 November 2009 on all new card purchases completed before 30 June 2009.

There is apparently no fee.

So - what do I do / buy to get this vast amount of 0% cash into my account?

Should I be buying a load of Amex travellers checks?

It needs to show up as a purchase. Do Amex TC's show up as purchases or Cash Advances?

Any other tips?

?????
I am sorry, but do you actually know anything about credit cards? It doesn't seem like it and then I would say stay away from stoozing! This is dangerous game unless you know how credit cards work...

b3nton

galaxy105 wrote: »

I have just been offered a 0.0% until 5 November 2009 on all new card purchases completed before 30 June 2009.

There is apparently no fee.

So - what do I do / buy to get this vast amount of 0% cash into my account?

Should I be buying a load of Amex travellers checks?

It needs to show up as a purchase. Do Amex TC's show up as purchases or Cash Advances?

Any other tips?

You should do a lot more research on Stoozing yet mate