Bit of money needed short term!

ChocHarris

Hi,
I need to get hold of about £1000 to purchase something now and will have the money to pay it off in about 2 months time. What is the best way to do this? Overdraft, loan, credit card??? Also, my purchase will need to be cash, cheque or BACS. Very grateful for any help.
Choc

skintdad

where are u buying this from? I'd be very dubious if it's a shop and they don't accept credit cards

ChocHarris

Sorry, I was a bit vague. It's to buy a horse privately.

Curr946

If you need to pay in cash, then an overdraft may be your best best. There are some good deal on credit card just now, but you cant walk to an ATM and ask for 1k :rotfl:.. not to mention the cash advance fees lol

You will most likely find you bank will lend you the overdraft without the need for a credit search and can walk out with the cash in hand. But check to make sure you understand the fees.

Loans require a credit search in most cases and not really cost effective for very short term borrowings.

Gromitt

You could get a M&S credit card and then ask M&S for some travellers cheques, put them in your bank account and then withdraw the cash?

(In this case the cheques are regarded as a purchase - or was, best check before doing so)

There would also be a small charge for the cheques, but not much on £1000.