Paying private seller by credit card?

StanleyDog

Hi

I am planning to buy a car from a private seller using a credit card I have already arranged a 0% interest balance transfer card to move the balance to afterwards. But how do I get the cash from my original card to give to the seller?

grumbler

StanleyDog wrote: »

But how do I get the cash from my original card to give to the seller?

a) ATM
b) get a card that offers Super transfers

StanleyDog

It's up to £5000, surely that's too much to withdraw from an ATM? Can I go in to the bank and ask the cashier to transfer the credit to my current account?

grumbler

Sometimes they do this (and charge like for a cash withdrawal correspondingly). You can ring them instead of going to a branch.
Beware of the cash limit that is typically 90% of the credit limit.

jo-bo

You'd have to check how much of your credit limit is available to withdraw as cash.

thenudeone

...and withdrawals of cash on CC get reported to CRAs and can be interpreted as a sign of financial distress, which will affect your credit rating.

Fruit_and_Nut_Case

StanleyDog wrote: »

Hi

I am planning to buy a car from a private seller using a credit card I have already arranged a 0% interest balance transfer card to move the balance to afterwards. But how do I get the cash from my original card to give to the seller?

Can you pay the private seller with a Credit Card Cheque? Generally I wouldn't recommend their use but if you do the BT to the 0% card very quickly it could work out for you.

dalesrider

I hope you are not doing this in the hope of S75 cover....

For that you have to show a direct debtor/creditor link.
EG. retailer name on transaction as taking the funds.

Curr946

paypal......