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Credit Card into ISA??
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calculating the payback over 20 years is only relevant if you are going to subscribe the maximum to cash ISAs in all of the following 20 tax years, and never to withdraw any money from your cash ISAs. this is not true for many people.
this is also not a very sensible risk to take on. if it works, you gain a much smaller amount than you might lose if your assumptions don't quite pan out and you get hit with some heavy credit card charges. so it's not a good trade-off.
i feels like a case of letting the tax tail wag the investment dog. it's much more important to put the right amounts (for you) in different asset classes (cash vs shares vs property) than to put as much as possible in tax shelters.
also, IMO a sensible government would remove the tax advantages from existing ISAs. though that doesn't seem likely to happen.0 -
grey_gym_sock wrote: »calculating the payback over 20 years is only relevant if you are going to subscribe the maximum to cash ISAs in all of the following 20 tax years, and never to withdraw any money from your cash ISAs. this is not true for many people.
It's not true for us as we subscribe the maximum to *S&S* ISAs every year and never withdraw any money! Money in ISAs is precious so leave it alone!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »It's not true for us as we subscribe the maximum to *S&S* ISAs every year and never withdraw any money! Money in ISAs is precious so leave it alone!
Bet you don't take it out of a credit card though!0 -
Onawingandaprayer wrote: »Bet you don't take it out of a credit card though!
No, but we do sometimes use a debit card!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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