Newbie questions

I'm planning to get a new kitchen this year as my old one's bits if built in kit are dying at an alarming rate. I've got £15k saved up but it'll run us down to only £5k cash in hand which with two kids, two cars and one earner feels quite tight.

I'd like to get a 0% card and put as much of the balance on that as possible and then pay it off at the end of the term. Husband earned £85k last year, has one credit card £8k limit but no balance.

I'm on maternity leave but resigning in November. I'm thinking my husband should apply as we use my credit card (pay off full balance each month). My salary was half his.

I guess it's a matter of balancing credit limits with how long the 0% is offered for. Do any of you have any advice as to where we should start?
I'm a qualified accountant but please make sure you get expert advice as any opinion is made in a private capacity.
"A goal without a plan is just a wish" Antoine de Saint-Exupery

Mortgage overpay 2012: £10,815; 2013: £27,562
Mortgage start £264k, now £232k

Replies

  • MallyGirlMallyGirl Forumite, Senior Ambassador
    6.1K Posts
    Ninth Anniversary 1,000 Posts Name Dropper Intrepid Forum Explorer
    Senior Ambassador
    tThere is some good info on here about the longest 0% cards. Since you have no balance then you will be looking for the slow stooze option of just putting everything on the 0% car and paying the minimum. It is also worth checking the minimum payment criteria as some are much lower than others.
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  • TixyTixy Forumite
    31.5K Posts
    Assuming you can you buy the kitchen or kitchen parts by credit card then you want to look for a 0% purchase card. Cards have up to 18months 0% on purchases. Tesco has the longest deal currently I believe.

    Yes if you are on maternity leave and then will not be working then its your husband who needs to be applying for a new card.

    He could also consider asking his current card provider if they have a 0% purchase deal available to him as an existing customer.
    I'd like to get a 0% card and put as much of the balance on that as possible and then pay it off at the end of the term
    I expect you realise that you will need to pay at least the minimum payment each month.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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