is there such a credit card that...

acs_2

....would allow me to pay for things over xmas and pay nothing of for a few months? (eg, 3 months/6 months)

I could do with a helping hand over xmas and wouldn't mind a bit of grace until march/april time to pay it off.

Do such things exist?

Glasgow_Al

Most cards seem to have a 0% introductory offer, but they do tend to require at least the minimum payment every month.

unimaginative_user_name

I don't know of a cc with a 0% introductory offer that wouldn't require minimum payments to be made every month. OP what is your credit history like? If you are new to ccs you would be unlikely to get a 0% deal.

chattychappy

acs wrote: »

I could do with a helping hand over xmas

Well, typically you only have to pay off 2% to 5% of the balance each month. So that's quite a helping hand!

I don't think there are any CCs that don't require a minimum repayment. The only way around this I can think of is to use cash advances or BTs from other cards.

One way is to have two cards, one for purchases and a BT card - one like MBNA that allows a transfer to your current account. You would then transfer enough to your current account to cover minimums on the purchase card as well as the BT card.

Eg let's say you plan on spending £1000 and paying back in 6 months. Minimum payments (at 3%) would be £30. So for 6 months that would be £180 (ok it would go down slightly).

So, on the MBNA card, request a transfer to current account of, say, £250. They'd charge 4% (£10), so the balance would start at £260. Let's say the minimum is 3%, that would be £7.80. Perhaps they have a minimum minimum of £10 - so you would require £60 over the six months. There you have it - £60 + £180 < £250, so it would work.

On those figures you have bought yourself £1000 for 6 months at a cost of £10. About 1%.

I'm sure this will trigger alarm bells amongst some readers! You can only keep the plates spinning for so long...

acs_2

unimaginative_user_name wrote: »

I don't know of a cc with a 0% introductory offer that wouldn't require minimum payments to be made every month. OP what is your credit history like? If you are new to ccs you would be unlikely to get a 0% deal.

My credit history is impeccable. In addition to the month to month credit we all get for things like mobile phones, Ive only ever had three loans. 2 x £5000 and 1 x mortgage at £58k. Im still paying the mortgage off and the other two were paid off on time. Ive never defaulted on any repayments and when I have spent on my credit card, its been between £300-£500 at any given time and I've always paid that off in full as soon as the bill landed.

acs_2

chattychappy wrote: »

Well, typically you only have to pay off 2% to 5% of the balance each month. So that's quite a helping hand!

I don't think there are any CCs that don't require a minimum repayment. The only way around this I can think of is to use cash advances or BTs from other cards.

One way is to have two cards, one for purchases and a BT card - one like MBNA that allows a transfer to your current account. You would then transfer enough to your current account to cover minimums on the purchase card as well as the BT card.

Eg let's say you plan on spending £1000 and paying back in 6 months. Minimum payments (at 3%) would be £30. So for 6 months that would be £180 (ok it would go down slightly).

So, on the MBNA card, request a transfer to current account of, say, £250. They'd charge 4% (£10), so the balance would start at £260. Let's say the minimum is 3%, that would be £7.80. Perhaps they have a minimum minimum of £10 - so you would require £60 over the six months. There you have it - £60 + £180 < £250, so it would work.

On those figures you have bought yourself £1000 for 6 months at a cost of £10. About 1%.

I'm sure this will trigger alarm bells amongst some readers! You can only keep the plates spinning for so long...

No alarm bells. I follow what you're saying, but as you say, you can only keep the plates spinning for so long and i lead quite a busy lifestyle and Im sure id forget to keep tabs on it. Ideally im looking for something that lets me buy now and drops me a bill off in say 3 months with a 14-30 day payment due date thereafter.....Im possibly peeing into the wind and getting soaked, but I thought id ask.

McKneff

acs wrote: »

No alarm bells. I follow what you're saying, but as you say, you can only keep the plates spinning for so long and i lead quite a busy lifestyle and Im sure id forget to keep tabs on it. Ideally im looking for something that lets me buy now and drops me a bill off in say 3 months with a 14-30 day payment due date thereafter.....Im possibly peeing into the wind and getting soaked, but I thought id ask.

##


You are.............:D

nearlyrich

There are 0% purchase cards available have a look on the website www.Stoozing.com there is a list on there.

I would suggest that you make sure that you set up a reminder for yourself to pay the minimum if you need to or you may lose the interest free period and pay a lot of interest.