Who's got the biggest 0% CBT credit limit?

Realgonekid1969

Hi

Am looking to buy a car on my existing bank card and transfer the balance to a 0% card, and so. Preferably somewhere I can get a £15,000 limit. I work for a bank and hopefully my score is excellent! but just wondered where I should apply first. I know I could use 3 cards but 1 would be easier and it would leave me two to transfer on to!

Any advice from anyone who has done this would be appreciated. I suppose I should check my VW dealer will accept a credit card too???

Thank you

WallyMan

Virgin were good for me. I talked up an initial £11k to £15k. Plus remember you can SBT this straight into a bank account so no issue with having to pay for the car on a credit card.

I think you may find other MBNA branded card eg Abbey will also offer similar

Good luck

koru

I think a dealer will charge a fee if you want to use a credit card. They have to pay a fee to visa or mcard. Or they will give you a lower discount on the price of the car, which amounts to the same thing.

So, better to do a balance transfer into your current account, then use the cash to buy the car.

Or -sneaky this - check if the dealer's car loans can be repaid quickly with no penalty. That way, you could pay off the loan with a balance transfer.

Capital One are doing 0% BTs for 18 months, with credit limit up to £25k - see other threads for details.

Realgonekid1969

A car dealer will charge 2% upwards it would seem to pay for a car on a credit card. But if a company such as Virgin will credit a bank account instead of paying off a card direct then surely they will charge 2%?

Is there a way of avoid this by "using the right words on the phone"???

koru

Realgonekid1969 wrote:

A car dealer will charge 2% upwards it would seem to pay for a car on a credit card. But if a company such as Virgin will credit a bank account instead of paying off a card direct then surely they will charge 2%?

Is there a way of avoid this by "using the right words on the phone"???

The difference is that Virgin operate the card, so they choose whether to charge a BT fee. They are willing not to charge the fee, as they hope to entice you in as a customer, so that they can charge you their normal ridiculously high rates of interest, once the 0% period is over. You need to make sure that does not happen. You MUST have the ability to pay off the balance at the end of the 0%, otherwise you will get hit with the interest. You may be able to transfer to a second 0% card, but don't assume these deals will remain available. If you don't know how you would pay off the card if necessary, then you are falling into their trap.

Read other stuff on this site about 0% deals. Make sure you understand thoroughly before you go ahead. If you get it wrong you will get burnt.

zcaprd7

Virgin (or MBNA) 'shouldn't' charge you for your first introductory balance transfer offer.

If you can't get another 0% deal when it runs out, then you can get a loan to pay it off, I'm sure the bank you work for do jubbly rates for employees?