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  • Jcts
    Jcts Posts: 48 Forumite
    It's not a good idea to use credit cards for long term borrowing
  • sunil237
    sunil237 Posts: 104 Forumite
    Jcts wrote: »
    It's not a good idea to use credit cards for long term borrowing

    If I were to be able to get a 18-24 month 0% deal, I'd be able to pay the credit off within the period.
  • Jcts
    Jcts Posts: 48 Forumite
    sunil237 wrote: »
    If I were to be able to get a 18-24 month 0% deal, I'd be able to pay the credit off within the period.

    With a salary of 19k and using a limit of 15-20k i'd be very surprised if you could pay it off in that time. It's irrelevant however as you won't get that limit
  • andyuk01
    andyuk01 Posts: 150 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    sunil237 wrote: »
    If I were to be able to get a 18-24 month 0% deal, I'd be able to pay the credit off within the period.

    0% deals for that long are usually for BTs not purchases
  • Fruit_and_Nut_Case
    Fruit_and_Nut_Case Posts: 4,617 Forumite
    Mortgage-free Glee!
    sunil237 wrote: »
    Sorry nope, just to spend on products. But thanks for that tid bit of info, may come in useful one day.
    Fair enough. It was just this that threw me.
    sunil237 wrote: »
    Just need access to cash soon.
    Are you for real? - Glass Half Empty??
    :coffee:
  • Jcts
    Jcts Posts: 48 Forumite
    andyuk01 wrote: »
    0% deals for that long are usually for BTs not purchases

    Yep, very true
  • Herbalus
    Herbalus Posts: 2,634 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Most Barclaycards require £20k minimum income. They do have a card with 14 months 0% on purchases, but again, that's for £20k salary.
  • afly
    afly Posts: 105 Forumite
    Part of the Furniture Combo Breaker
    edited 27 August 2013 at 11:50AM
    Tesco purchase card is 18 months, not sure about min salary but my wife just got one on less than £20k

    Who could say regarding limit, most likely 3-4k

    I don't think you'll get anywhere near £15-20k, certainly not with a new application.

    It can be done, but it takes time. As a long term card holder with my bank my limit on that card is £12k (My income is only marginally more than yours)

    I echo others though on how wise it is to target so much debt onto a CC, even if it is interest free (for now)
  • Paully232000
    Paully232000 Posts: 2,108 Forumite
    You could try Barclaycard as the new limit on my card which I took out about 6 months ago was £12.5K.

    This took my available credit on all cards to well over 100% of my annual salary. So it is possible, but not sure if usual.
  • Cycrow
    Cycrow Posts: 2,639 Forumite
    i dont see how you would be able to pay off 100% of your salary in 18 months.

    unless you have virtually no outgoings, its just not going to be possible
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