Short Term Loan

steve700

Okay, I did put a post up the other day about borrowing from my Dad, but not sure if there is another way.

I want to borrow £1500 for a period of about 5 weeks but the bank will not allow me to increase my overdraft (I've recently requested that it be reduced to £200 but perhaps I was a bit premature).

I need to pay for some work to be done on my house on about Jan 10th but I do not get paid (when I will have enough) until 23rd Jan.

The bank have offered me a loan but I don't want to take one out for such a short period. The other option would be a credit card but I'm not even sure if the plumber takes credit cards, and if he doesn't, I would have to draw cash against the card and then pay interest on it (I imagine).

Any other options open to me?

Thanks

Steve

justruth

You could take the credit card and balance transfer the sum to your bank acount

steve700

Are you allowed to do that?

I thought that you could only Balance Transfer from other cards.....

Gemmzie

Why does the work have to be paid by the 10th? Could you not explain to them that you get paid on the 23rd?

steve700

Gemmzie wrote:

Why does the work have to be paid by the 10th? Could you not explain to them that you get paid on the 23rd?

It's been arranged for the work to be done the 2nd week in Jan, for a couple of months.


This week I had to book up some flights for my cousin's wedding before the flight got booked up, hence the concern about having the money available on time.

I am waiting for a call back as he may be happy to take the money on 23rd but I'm trying to cover all bases...

Gemmzie

That would probably be the easiest option, if worse comes to it give them a cheque on the 21st.

Any short term loan is going to be killer on interest, unless you have the credit card option but even that will cost you a bit

steve700

Thanks,

There was an A&L Card available with my Premier Account (which I hadn't taken up) that charges 2.25% BT Fee.

I've just been authorised for one of them, which is much more convenient as I can transfer the funds straight back, from my current account, to clear the card as soon as I get paid.

It also keeps all my credit in one place!

Steve