Tesco Clubcard 0% 13 Months - Need to somehow transfer the cash so I have it upfront

djmk4

To cut a long story short im looking at getting a new car, I have around £1000 saved, im in a good job and can afford the repayments

I applied for a Tesco Clubcard credit card, 0% interest on purchases for 13 months and 0% interest on balance transfers for 9 months, now when looking for cars, i dont want to be restricted to garages with a card machine.

Is there anyway (*I have looked at paypal with the 4% fee) to transfer funds from the credit card to an account that will act as a "Purchase" to keep the 0% in line.

I have looked at buying premium bonds, then cashing them in, would this work or not?

Paypal gift? any other companies like paypal with a lower rate?

Jammi

You could buy Sterling Travellers Cheque from Tesco and deposit into your bank account. See http://www.stoozing.com/forum/YaBB.pl?num=1287002563/0 for a discussion about this method of converting your available credit into cash.

djmk4

cool thanks, so basically follow the below process


1. get yerself a Tesco 13month slow stooz card (not seen any limits over 10k)

2. order by phone from Tesco Finance - Amex Sterling travellers cheques to full limit, with confirmed purchase 1.25% fee. Over GBP500 these are delivered Special Delivery next day free, before 1300hrs

3. if you live near one of the bigger Tesco Extras you can also do it in person with a passport up to 8pm ( i did a mix of both phone and store). there are some further money laundering checks if you go too high, but I was OK with 1k instore

4. 10 minutes later deposit same TC in a suitable(receptive and fee-free) bank account. With FPS and/or my bank (lloydsTSB)these were treated as cash deposits and cleared same day ( Smiley

5. Importantly, and after pre-confirming this 4 times (!) the travel money is treated as a purchase not a cash advance. It shows as such on my online tesco account. Thus there is no cash advance fee and it remains within the 0% band.

nuff said

result = full balance in current account within 48hrs of receiving card and creditlimit. thats tasty if you can stomach a little hassle. And reading some of the adventures on here (Royal Mint coins springs to mind), some of you can!

ironlady2022

Are you definitely sure the purchase of these cheques will be classed as a 'purchase'? I'd double check with both Amex and Credit Card company. Always be aware of paying money for money. For example some travel agnts will charge for paying currency with card, same principal here.