Which Credit Card - Honeymoon & 0% deal

foundationsmcr

Hi people, I'm looking for some help if possible. Some background info. My fiance and I have a relatively good credit score, I have 1 default on my record from just under 6 years ago (expires in July), my Experian score was 940 last week. We both have 1 credit card each which we use and pay off in full every month. We I booked our honeymoon through Kuoni. We need to pay off the £5K balance in the next few weeks :eek:

As we've lived together for many years, we've asked people not to buy gifts, but if they choose to, we'd rather they purchased a Kuoni gift card to help with the cost of our honeymoon (which we're more than prepared to pay for the full balance by the way).

As such, we thought it might be a good idea to obtain a 0% credit card to pay for the trip, then repay in full within 12 months.

As far as we're aware there is a 2% charge on credit card payments with Kuoni.

My questions are these;

What would be your advise for paying for this trip?

1) Debit card payment (to avoid the 2% charge) and then transfer balance onto a 0% credit card, (is this possible), and which credit card would you recommend?

2) Pay by credit card, in which case, which one would you recommend?

Finally, which card would be best to take away with us for any essential spending (we're visiting the Maldives and Sri Lanka)?

My head is spinning from reading T&Cs everywhere!

splatt30

You can't transfer a debit from a debit card. Some card let you transfer into a current account but charge 4% to do so.

You could get a 0% on purchases card ie m&s or tesco and use that to pay. It will also give you the security of section 75. For me I always pay the fee to put holidays on credit card for this.

However, if the debt is now on a credit card how can you use your kuoni gift cards, I presume they can only be used to pay kuoni directly? If the debt is on the credit card you'd need to ask guests for cash/ cheque toward the honeymoon.

foundationsmcr

splatt30 wrote: »

You can't transfer a debit from a debit card. Some card let you transfer into a current account but charge 4% to do so.

You could get a 0% on purchases card ie m&s or tesco and use that to pay. It will also give you the security of section 75. For me I always pay the fee to put holidays on credit card for this.

However, if the debt is now on a credit card how can you use your kuoni gift cards, I presume they can only be used to pay kuoni directly? If the debt is on the credit card you'd need to ask guests for cash/ cheque toward the honeymoon.

Hi, thanks for the swift response.

The Kuoni cards are cashed in for a cheque on return, which we could then use to pay off the credit card. The cards don't have to be used to pay for another Kuoni holiday.

Sounds like our only option is to go for a 0% purchase card as you've suggested. Are there any you would recommend which have a significant limit for purchases? I'm aware we may need more than one card as I can't imagine many having a 0% purchase with limits up to £5K?!

foundationsmcr

Is there any way I can move this post into the general CC forum? I think I've posted it in the wrong place. Sorry.:o

foundationsmcr

In case anyone is interested and still reading this, just got accepted for the Tesco 0% purchase card with a balance of £3800.

Well chuffed! When we take into account the reward points, that's £2850 back in reward points, at that rate, we can almost afford another honeymoon!!


:j:beer::T

splatt30

Excellent news, re being accepted for the Tesco card.
Not to dampen your spirits but I think you have probably miscalculated your reward points. Tesco give 1 point per £4 spent. If you max it that would be 950 points. This is equivalent to £9.50 to use in Tesco or they are normally now worth x3 as much in vouchers is £28.50.

I suggest that you set up a direct debit to pay the minimum each month so you don't miss any, and some sort of reminder to yourself for when the 0% runs so you can pay the balance without paying any interest.

STick the money from your gift cards (how brilliant that Kuoni will just write you an equivalent cheque) and the other money to clear the balance in the highest interest account you can find.

Have fun with the wedding planning, you'll miss it when it's gone, Honest!!!

Bob_the_Saver

As it's your honeymoon what about Virgin?

foundationsmcr

splatt30 wrote: »

Excellent news, re being accepted for the Tesco card.
Not to dampen your spirits but I think you have probably miscalculated your reward points. Tesco give 1 point per £4 spent. If you max it that would be 950 points. This is equivalent to £9.50 to use in Tesco or they are normally now worth x3 as much in vouchers is £28.50.

I suggest that you set up a direct debit to pay the minimum each month so you don't miss any, and some sort of reminder to yourself for when the 0% runs so you can pay the balance without paying any interest.

STick the money from your gift cards (how brilliant that Kuoni will just write you an equivalent cheque) and the other money to clear the balance in the highest interest account you can find.

Have fun with the wedding planning, you'll miss it when it's gone, Honest!!!

:rotfl:

I had a real "d'oh!" moment on the train on the way home as that sank in and I realised my mistake. Still, it almost covers the Credit Card charge so I'm still chuffed. Yeah we fully intend to pay the min each month and pay off the balance from a savings fund out of an ISA at the end of the period.

I've already been telling the missus she'll miss the planning, to be fair, she's done most of it.

Bob_the_Saver wrote: »

As it's your honeymoon what about Virgin?

I'd heard Virgin are tough to to get into.