Credit Card with cheque book? Does it exist?

waterlilyann

I want to apply for a credit card with 0% on purchases (I don't have a balance to transfer so deals on transfers aren't an issue). We have just bought a house and need to pay for some alterations on a card but my OH says that you can get a credit card that comes with credit card cheque books. This would be great to pay workmen/labour costs.

Does anyone know of a card who does this? Does it even exist or is my OH telling porkies ?!

Any help greatly appreciated!

Astaroth

All credit cards companies will bend over backwards to send you out credit card cheques.

Be very careful with these - the majority of card issuers consider a using one of their cheques as a cash advance and not a purchase therefore not eligeble for the 0% on purchases and accrewing a much higher APR with interest from day 1.

waterlilyann

Thanks for this Astaroth. I've heard that Virgin do cheques and they treat them as purchases. I've looked on their website and can't find anything related to cheques! I will only use cheques if they are treated as purchases and subject to 0%. Do you know anyone who does this?

Many thanks

YorkshireBoy

Whilst there are 0% 'credit card cheque books' out there, you will pay a circa 2% handling fee on every cheque you write.

A better option may be to consider the Virgin card which allows you to transfer cash to your current account (ostensibly to repay your overdraft/loans etc) at 0% for 9 months - with a £5 minimum payment. A one-off transfer will cost you 2% of the value, but this is capped at £50. Therefore, anything you transfer over £2,500 is effectively fee-free.

Check out the 'Super BTs' link in the blue box above. You may also find the 'Stoozing' link useful as well - again accessed from the blue box above.

YorkshireBoy

waterlilyann wrote:

I've looked on their website and can't find anything related to cheques!

Where were you looking?

Promotional rate 0% p.a. - that's 0.0000% a month on card purchases for 5 months from account opening, and 0% p.a. - that's 0.0000% a month on balance transfers and credit card cheques for 9 months from account opening, provided you operate your account within the terms and conditions.

http://uk.virginmoney.com/credit-card-v1/pre-apply.html

waterlilyann

Ok, so maybe I wasn't reading very carefully!! Thanks YorkshireBoy!

file_wizzard

Capital One were offering cheques as normal purchases ( i.e effectivly 0% if paid within billing cycle) with their silver card, don’t know if the offer is still valid, but worth a phone call to find out.

http://forums.moneysavingexpert.com/showthread.html?t=32707

YorkshireBoy

file_wizzard wrote:

Capital One were offering cheques at 0% as an introductory offer with their platinum card, don’t know if the offer is still valid, but worth a phone call to find out

I wouldn't recommend Capital One for cheques, but if OP goes down this route they should take a very close look at the cheques and any associated paperwork...

P - denotes they are charged at your purchases rate.
B - denotes they are charged at your balance transfer rate.
S - denotes they are charged at your cash advance rate.:eek: