Advice please on which card to use for membership fees

styles_2

Hi,

after a bad experience with cards a few years ago my credit rating is back to a good rating.

I am using the Santander 123 card for fuel and repaying in full each month.

My golf club membership is due at the end of March. In the past I used a credit agreement to pay monthly but it costs around 7% or more and payments are over ten months.

My intention is to pay with the Santander card (thus getting a ten pound cash back) and then transfer the balance to a 0% card and pay monthly over one year.

Which card is best for me - it seems from the tools that it would be the halifax card but if anyone thinks differently please let me know.

The details again are:

Golf club membership = £1000

Credit agreement = 7% and payments over ten months.

Thanks in advance for the help and advice!

Derivative

styles wrote: »

My intention is to pay with the Santander card (thus getting a ten pound cash back) and then transfer the balance to a 0% card and pay monthly over one year.

A balance transfer will likely cost more than the £10 you aim to save.

Gromitt

How will you get £10 cashback from golf membership? A golf company is unlikely to be regarded as a supermarket, department store, or fuel station.

styles_2

Derivative wrote: »

A balance transfer will likely cost more than the £10 you aim to save.

The saving is not on the £10, the saving is on the cost of the credit agreement which is circa 7%

Even the cost of a balance transfer means that overall it will be cheaper than using a credit agreement.

However as Gromitt has pointed out if the purchase doesn't qualify for a 1% cashback I will not use the santander card and instead just pay outright with a card offering 0%.

Is the halifax card still the best to go for?

chrisjw37

7% is much better than any existing credit card rate

Derivative

styles wrote: »

The saving is not on the £10, the saving is on the cost of the credit agreement which is circa 7%

Even the cost of a balance transfer means that overall it will be cheaper than using a credit agreement.

However as Gromitt has pointed out if the purchase doesn't qualify for a 1% cashback I will not use the santander card and instead just pay outright with a card offering 0%.

Is the halifax card still the best to go for?

What I am saying is, paying for it on the 0% card is better.
You will spend more than £10 transferring the balance from the cashback card to the 0%.

Credit agreement should not be relevant.

styles_2

chrisjw37 wrote: »

7% is much better than any existing credit card rate

Surely a 0% credit card is better than 7% credit agreement - providing it is paid in full within the 0% period

Tixy

styles wrote: »

Surely a 0% credit card is better than 7% credit agreement - providing it is paid in full within the 0% period

Yes - you just need to choose a card with 0% on purchases, and ensure you can pay it off in the promo period.

How long do you intend to pay it back over - if its less than 12months (and hopefully it will be if its annual subscription), then any card offering 12months or more on purchases would be fine.

Who do you bank with ( if not santander)? do they offer a 0% purchase card?
Or what about tesco's where you can earn clubcard points on your fee?

styles_2

Yes Tixy, the maximum time I would pay it over would be 12 months and shorter is most likely