Need talking through this pls!!!!!!!!!

asquiths_2

Hi all
i'm just wanting someone to clarify how i go about doing a SBT!!
i'm buying a car but need 1500 cash tommorrow!! was hoping to get it on my cc and bt it to my 0% card but they don't accept cc's

i have numerous cards
egg
virgin
barclaycard
yorkshire bank visa card

which can i do an SBT from and exactly what do i do??

soz if this is a silly question but i wanted to make sure
thanks

galileo

You can do a SBT with your egg card, but if you need the cash tomorrow that will be no use at will not reach your account until friday.

You will have to obtain a cash advance from one of your cards and then immediately do a BT onto your 0% card from this card as cash advances are expensive because it will begin to accrue interest at once.

YorkshireBoy

...or alternatively, arrange a temporary overdraft.

I'm making an assumption (because you're in Leeds and you have a YB credit card) that you have a Yorkshire Bank* current account???

If so, using your overdraft will cost you roughly £14/£1,000/month or £6.70/£1000/month, depending on whether you have a current account or current account plus respectively.

Ask your 0% card provider to BT £1,500 from your Egg Card - this will send £1,500 to Egg. Call Egg and ask them to BACS transfer (or BT online yourself) this £1,500 cash to your bank to clear your overdraft.

There might be a few days interest here and there, but your YB overdraft APR should be lower than your standard Egg Card APR so bear that in mind when you're shuffling the money around (ie use your overdraft, send the money to Egg from your 0% card, and then repay the overdraft from Egg). If you can complete in 7-10 days, then the interest charged by YB should be no more than £7 or so.


* The same process can be applied if you bank with Barclays (or anybody else for that matter) but getting the money out of Egg works best if it's sent to the account that's linked for the DD.


Good luck!

blacksta

Believe me mate. the car can wait i would rather wait and properly arrange your finance