1 Month Loan?

Gazmondo

Hi, wasn't sure where this should be posted so took a stab here, apologies if it's wrong!

Basically, I need around £600-£700 as soon as possible, and can pay off at the end of January, although not sure how to go about it, where there is a credit card out there or a short term loan or something.

I have an interest free credit card with tesco about to expire, which will be paid off in 6 days, the limit being only £400, and I would need the £700 in cash rather than on credit. I have a loan with Tesco aswell which gets paid off each and every month without fail, I may be answering my own question here but would ringing Tesco and seeing what they could do in regards to the loan/credit card be recommended?

Is there any other methods of effectively being paid a month early. My credit rating is good. Thanks in advance.

[Deleted User]

If you apply for a card now, you probably won't have it until new year.

You could try a friend or relative maybe, or see if there's a credit union in your area? After that, speak to your bank and see if they'll extend your overdraft for a month or two. Failing that, you could weigh up the costs of things like wonga.com and quickquid.co.uk - but they can end up pricey.

YorkshireBoy

Gazmondo wrote: »

...would ringing Tesco and seeing what they could do in regards to the loan/credit card be recommended?

Tesco would do you a 'money transfer' on their card, ie a fee-free cash transfer to your current account and charged at your purchases rate of interest.

However, their 'advance limit' (the most they'll let you have by way of a cash balance) is limited to around 50% of your credit limit. All of which means you need to ask for a near 400% credit limit increase (from £400 to £1400)...and that's after you clear the existing balance.

[Deleted User]

billbennett wrote: »

If you apply for a card now, you probably won't have it until new year.

You could try a friend or relative maybe, or see if there's a credit union in your area? After that, speak to your bank and see if they'll extend your overdraft for a month or two. Failing that, you could weigh up the costs of things like wonga.com and quickquid.co.uk - but they can end up pricey.

a credit union would expect you to be a member for 6 months and a saver during that period before they would consider giving a loan

Tixy

Hi

Do you currently have an overdraft? If not have you tried applying for one? If you could get one then its quick and they are ideal for short-term cash flow problems.

Gazmondo

billbennett wrote: »

If you apply for a card now, you probably won't have it until new year.

You could try a friend or relative maybe, or see if there's a credit union in your area? After that, speak to your bank and see if they'll extend your overdraft for a month or two. Failing that, you could weigh up the costs of things like wonga.com and quickquid.co.uk - but they can end up pricey.

Yeah that's the only problem with the card, relatives isn't really something I can look to for money (wouldn't really want to either), I've seen quickquid and wonga but after weighing the horror stories I've read about them against simply waiting a month, I'd rather wait.

Appreciate your reply though billbennett, cheers :beer:

YorkshireBoy wrote: »

Tesco would do you a 'money transfer' on their card, ie a fee-free cash transfer to your current account and charged at your purchases rate of interest.

However, their 'advance limit' (the most they'll let you have by way of a cash balance) is limited to around 50% of your credit limit. All of which means you need to ask for a near 400% credit limit increase (from £400 to £1400)...and that's after you clear the existing balance.

Might have to look at this, there must be something Tesco can do either with the credit card or at least the loan. Clearing the existing balance isn't a problem, either cheers! :beer:

Tixy wrote: »

Hi

Do you currently have an overdraft? If not have you tried applying for one? If you could get one then its quick and they are ideal for short-term cash flow problems.

I'm with Halifax, either way the overdraft will cost me as it's only up to £300 that's free if I remember correctly, which I've got at the moment! I'll try them anyway :beer: