Suddenly need cash

Financialtizz

Martin has shown a number of great 0% credit card debt transfers deals which look quite interesting but I need to lay my hands on some cash - say £1,000 I have Lloyds TSB credit cards (which currently bear no debt) and a platinum Barclays Debit card. Is there a clever ploy I can use (without too high a penalty - 0% is most acceptable) to get hold of some cash? Is there a brain box out there who can advise me.:embarasse

paddyrg

No, not really. Short of buying goods and selling them for the same price.

KingElvis

Credit cards charge a (very) high interest rate for cash withdrawals.

One point though, my Post Office credit card allowed me to have cash paid into my account to pay off my other half's card which was nearing the end of 0%

This was treated as a normal balance transfer as I was only charged a 2% fee as usual.

Coveredinbees!!!!

spend on the 0% card and save the money but it may take a while depending on your outgoings.

epsilondraconis

Hi OP, have a read of this regarding super balance transfers to see if it can assist in your circumstances:

http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs

Fez88

You could do this by applying (and being accepted) for the following 2 credit cards.

The Halifax Clarity credit card doesn't charge a fee for cash advance's (although I would assume it charges alot of interest on a cash balance.

and

Barclaycard Platinum 0% balance transfers for 17months with 2.9% transfer fee.

So once you've got both cards apply to transfer the balance of £1000 from the halifax card to the Barclaycard (i've had halifax cards for years and they accept credit balances). Once you login online and see your halifax card £1000 in credit go to the cash point 3 or 4 times until you've withdrawn the £1000 you need and desposit this into your current account.

The £1000 will cost you £29 to transfer to the Barclaycard and you have 17months to repay the balance before you're charged any interest.

This is the cheapest way I can think of, I hope it helps.

pamelamalcolm

Mikek wrote: »

work!!!!!!!!!!

I AGREE!:beer:

Pinkruth

Mikek wrote: »

work!!!!!!!!!!

They're retired.