Balance Transfer Newbie

karldenton

OK,
I'm thinking about buying a new Apple Laptop - £900

I currently have a HSBC credit card, which comes out DD. I also have a capital one card, which I got to improve credit rating - around %30 apr.

If I get a new credit card with 0% balance transfer for 13 months, should I buy the laptop on the capital one card then transfer the balance to the new card. If I pay so much a month does it mean I just pay the amount or is the APR payable each month?

YorkshireBoy

Why pay a (3%ish) fee for the BT when you could apply for a Tesco card with 12 months 0% on purchases. If you're making one application that's the way to go isn't it?

Don't be tempted to make the purchase until you have a plan in place to get the debt onto 0%.

Don't really understand the question in your last sentence, other than the APR is an annual rate and is used to compare products once you're out of any introductory deal.

karldenton

Sorry, RE the last question, i meant if I'm on a 0% BT deal and a transfer the balance. Is there a charge for just paying the minimum each month or is it just the amount I owe until the intro offer is over

Sportbilly_2

A bit off topic- but unless you actually need OSX on a middling-fast laptop, then consider buying a non-Apple model with Windows or Linux as its operating system. They'll use the same parts, and by and large be made by the same group of far Eastern factories, but you'll get much better value for money.

karldenton

Thanks for the info RE Tesco Card.
So just to clarify, If I buy the laptop, I can pay off as much as I can afford each month for 12 months and not pay any interest.

@Sportbilly - was looking at netbooks too with Linux on !

YorkshireBoy

karldenton wrote: »

Is there a charge for just paying the minimum each month or is it just the amount I owe until the intro offer is over

You pay the contractual minimum payment each month (generally 1% to 3%), and so long as you clear the final balance before the end of the 0% intro period there will be no interest charged.

Sportbilly_2

karldenton wrote: »

@Sportbilly - was looking at netbooks too with Linux on !

Go for it. I use Windows because I like PC games and I'm a .Net developer, so I pay the Microsoft tax. If I was a designer, I'd probably go with OSX and pay the Apple tax, steep as it is. If I just wanted something to browse the web and do email and the odd document or spreadsheet, a netbook with Linux, Open Office and a shedload of free software would be more than fine.

Karl.H_2

I might get shot down for suggesting this but here goes: instead of borrowing the money to pay for the laptop why not open a savings account and send a little there each month. Perhaps £50-£100 per months. You will have it in no time. Plus, if you come into financial problems you have an 'emergency fund'.
Are you a student? The Apple store has a student discount, or get a student friend to order it for you once you've saved up. Anyway, that's my take on things.

ElkyElky

Apple laptops are sexy.

Karl.H_2

ElkyElky wrote: »

Apple laptops are sexy.

I cannot agree further. :j

ElkyElky

I'd buy one, only so I can say "I own a Mac"... then I'd shove Windows on there.