Can I pay for a bankers draft with a credit card?

Voyager2002

Dave_the_Ginger_Cat wrote:

Even if it is the same bank, they'd treat it like a cash withdrawal, and you'd be charged as you predict

If you have a card which offers a super balance transfer to your current account and this is also done at the 0% rate, you may then transfer to your current account, and then pay your bank the tenner or so for the draft. There is good advice elsewhere in this forum on SBTs.

Here's an idea - ask them if they take paypal. That way, your card account will show a purchase which will for sure show on the 0% rate. The seller may ask you for a little extra to cover their fees, but you will get a good rate for your loan, and you will also have the benefit of the cover of s56 & s75 of the Consumer Credit Act. It gives you chargeback rights on the seller, and additional cover by your card.

If not, think you're stuck. Sorry

I'm sorry, but the paypal bit is simply wrong. You do NOT enjoy the protection under the Consumer Credit Act, since the credit card issuer's liability ends when it has made the payment to paypal.

Furthermore, some credit cards treat paypal payments as cash advances, so check this carefully.

SBT is probably the way to go. If your card allows a balance transfer "to pay off my overdraft" then you are fine. Otherwise, use an SBT card like Egg or Virgin to move the money into your current account. Egg do not charge BT fees when you do not have an interest-free offer from them.

YorkshireBoy

Voyager2002 wrote:

Egg do not charge BT fees when you do not have an interest-free offer from them.

Not strictly true. The 1.9/3.9% APR 'special promotions' that Egg run from time to time (and usually the month before your anniversary offer) carry a 2% (max £50) BT fee.