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Who's got the biggest 0% CBT credit limit?
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Realgonekid1969
Posts: 7 Forumite
in Credit cards
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
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
0
Comments
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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 luck0 -
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.koru0 -
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"???0 -
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"???
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.koru0 -
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?0
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