is it possible to 'tart' the catalogue companies?

XXSCOTSLASSXX

I currently have a littlewoods account, no current balance but a £900 0% deal due to end mid march if not paid off in march it goes to 40% with deferred interest applied :eek:..... the account has a 3k limit with further offers of 12 months 0% ......now I have the to £900 to clear the balance BUTTTTTTTTT wondered whether it was possible to 'tart' so to speak with a further 0% offer lol....

purchase goods worth £900 on a 0% for 12 months deal... sell and use money to pay off existing 12 month deal thats due to end keeping my £900 in bank .......... obviously any shortfall in sales would be hit that id have to take however would assume wouldnt be 40% with deferred interest....can anyone see any pitfalls with this other than the obvious extending debt for further 12 months all be it at 0%??

rising_from_the_ashes

TBH I think you'd struggle to raise enough to cover your costs.... catalogue goods tend to be more expensive than the same goods bought elsewhere (the beauty of catalogues is that you can pay them up but this is usually at the "expense" of paying more in the first place).

What if you spent another £900 and then only get £500 for the goods ... you'd still be £400 short on clearing the current balance (which would have the huge interest added) and then have the £900 to clear next year.

IMHumbleO not worth it (sorry) - others may disagree though

XXSCOTSLASSXX

rising_from_the_ashes wrote: »

TBH I think you'd struggle to raise enough to cover your costs.... catalogue goods tend to be more expensive than the same goods bought elsewhere (the beauty of catalogues is that you can pay them up but this is usually at the "expense" of paying more in the first place).

not necessarily ..... argos currently have blackberry curve at £129.99 http://www.argos.co.uk/static/Product/partNumber/5185597/Trail/searchtext%3EBLACKBERRY+CURVE.htm Very have it at 99p less... http://www.very.co.uk/blackberry-curve-8520-smartphone-from-vodafone---black/821172655.prd?browseToken=%2fq%2fblackberry+curve

I also have a very account which i cleared a few months ago... I can understand what u saying tho I do have the funds in bank to clear so the 40% is not really an issue ..... trying to find a loophole to keep funds in bank for longer tho lol

amorge

Very have much cheaper prices than Littlewoods! I do agree with RisingFromTheAshes

boobies

XXSCOTSLASSXX wrote: »

not necessarily ..... argos currently have blackberry curve at £129.99 http://www.argos.co.uk/static/Product/partNumber/5185597/Trail/searchtext%3EBLACKBERRY+CURVE.htm Very have it at 99p less... http://www.very.co.uk/blackberry-curve-8520-smartphone-from-vodafone---black/821172655.prd?browseToken=%2fq%2fblackberry+curve

I also have a very account which i cleared a few months ago... I can understand what u saying tho I do have the funds in bank to clear so the 40% is not really an issue ..... trying to find a loophole to keep funds in bank for longer tho lol

So how much do you think you would get for a Blackberry Curve, as a private seller and hence offering no real consumer protection? Sold prices on ebay for private sellers are as low as £80.

LittleMissGiggles123

XXSCOTSLASSXX wrote: »

not necessarily ..... argos currently have blackberry curve at £129.99 http://www.argos.co.uk/static/Product/partNumber/5185597/Trail/searchtext%3EBLACKBERRY+CURVE.htm Very have it at 99p less... http://www.very.co.uk/blackberry-curve-8520-smartphone-from-vodafone---black/821172655.prd?browseToken=%2fq%2fblackberry+curve

I also have a very account which i cleared a few months ago... I can understand what u saying tho I do have the funds in bank to clear so the 40% is not really an issue ..... trying to find a loophole to keep funds in bank for longer tho lol

Surely just not buying anything at all & saving the money is the best way to keep the funds in the bank longer? By your method all you're actually doing is buying products to sell on, some at a possible loss. So you're potentially not even going to make any money from this method, so again goes back to just leaving the money in the bank, not spending on the catalogue & you'll still be in the same position.

XXSCOTSLASSXX

LittleMissGiggles123 wrote: »

Surely just not buying anything at all & saving the money is the best way to keep the funds in the bank longer? By your method all you're actually doing is buying products to sell on, some at a possible loss. So you're potentially not even going to make any money from this method, so again goes back to just leaving the money in the bank, not spending on the catalogue & you'll still be in the same position.

think you missed the point of the actual post... £900 I have in bank is going to pay off the 0% deal i have at moment .... so leaving in bank isnt an option..... making money out of this wasnt the idea either... extending my current 0% deal for a further 12 months was the whole idea thus leaving the £900 I have in my bank for a further 12 months.....

looking at it from a different perspective... £900 due to be paid mid march as 0% ending..... say i didnt have that £900 therefore deferred interest will be added at 40% balance now nearly £1500 plus further interest now to be added monthly until balance cleared, monthly payments of approx £60... £40 odd of that interest each month .... purchasing £900 of goods on 0% for 12 months and selling for even a loss of say £40 on an £129 phone ... is a lot less than 40% deferred interest and further interest added.... thus extending the original £900 owed for 12months.......... ok so at £129 a phone ud need to order 7 phones lol selling at £80 per phone leaving u £280 short ....... that £280 to be paid is a h!ll of a lot less than the deferred interest and subsequent interest to be paid .......

my senario .... that £280 loss i pay out of my £900 i currently have .....leaving me £620 in bank with no monthly payments to be made approx £60 saved each month 12x£60 -£720 , balance of £900 to be paid in 12 months time, have my £620 already plus £720 saved from not making monthly payments £620 + £720 = £1340 take off the £900 due in 12 months time leaving £440 in bank ...........

£280 interest paid (in effect) on that initial £900 = £23.00 per month however i have already had 12 months interest free so really thats £280 over 24 months...... big difference to the 40% deferred and further monthly interest plus I keep £620 in the bank for a further 12 months..... someone must see where im coming from?? lol

camuk81

Scotslass,

I can see where you are coming from. So let's break it into two.

Buying and then reselling isnt really an option due to the price they charge on goods.

Back to the savings, if you are getting 0% then yes you can earn intrest on your savings. If you buy something else make sure the 0% will apply to the old debt. However you need to find a payment for this as well.

Fairly similar to what happened on credit cards before they got wise and put balance transfer fee's in place.

My only though proceed with caution

XXSCOTSLASSXX

camuk81 wrote: »

Scotslass,

I can see where you are coming from. So let's break it into two.

Buying and then reselling isnt really an option due to the price they charge on goods. have had a look and on many top end electricals they selling for the same price as argos etc so do the picking right and this wouldnt be a problem

Back to the savings, if you are getting 0% then yes you can earn intrest on your savings. If you buy something else make sure the 0% will apply to the old debt. the old debt (£900 due in mid march) wont be an issue as this will be cleared in full prior to the 0% period ending, using anything made from sales of goods purchased in the new 0% for 12 months deal that is on offer

However you need to find a payment for this as well.
not sure what u mean here?

Fairly similar to what happened on credit cards before they got wise and put balance transfer fee's in place.

My only though proceed with caution

thanks for your response I am not going totally mad after all lol

camuk81

Lol, just be wary, would be a great money maker and I have seen silly things like brand new DVDs go for £15 when you get them on play for £9.99.

My comment about the payment was just be careful if there is a difference between the price you pay and the price you get

XXSCOTSLASSXX

camuk81 wrote: »

Lol, just be wary, would be a great money maker and I have seen silly things like brand new DVDs go for £15 when you get them on play for £9.99.

My comment about the payment was just be careful if there is a difference between the price you pay and the price you get

ah ok yes i understand and am not going into it in anyway to make money more to save paying out a large lump sum in 3 weeks time lol.... obviously there may be a hit to be taken ie buy something for £100 sell for £60 say, however any loss would be covered by the money I currently have sitting in bank to pay off the current 0% dealit would not however be all £900 in one lump sum..... it may seem mad but rather than paying out the full £900 in one go mid march extending x amount onto a new 0% deal for 12 months makes MSE sense to me lol.

the other option for saving my £900 in the bank is allowing the 0% to run onto the 40% interest account and running at approx £60 for 104 months...... this just seems like financial suicide!!

This way i would get the best of both..... i dont have to pay out all of the £900 I currently have plus i have a further 12 months to pay that initial £900 at 0% ....... the debt never exceeeds the initial £900 .....