credit card cheques

justines_money

Can anyone tell me if there is a credit card company other than the Halifax who issues cheques for the credit card.Halifax send them out as free cheques and they have no cash handling fee.Barclaycard do them but with a 2% cash handling fee.I need to find another company asap to raise a balance to transfer to the Texaco card.Complicated I know!
Thanks

Reaper

Most credit card cheques are to be avoided as they tend to charge.

What are you trying to do? There are easier ways if you want cheap ways of borrowing on credit cards. Certain cards let you "balance transfer" to your bank account, even if you don't really have an overdraft. That means you get cash in the bank and a 0% debt on the credit card.

Read this article to find out what an SBT is.
If that is what you are after look at the Egg and Virgin cards.
You can go one further and "stooze", that is borrow money at 0% and put it in a savings account to make a profit on it.
Read this article for an introduction, if you want more detail see https://www.stoozing.com

System

Today barclaycard sent me a cheque with a big banner heading saying 0% interest for three months. Further down it said 2% fee applies. I just don't know how they get away with it: clearly its not 0% money if you are having to pay for it. It makes me mad

justines_money

Thanks for the info on SBT.What i want to do is raise £15000 to pay for an extension.I thought of using the Texaco 3.9% for the life of the balance.Halifax will give me £10000 on a feeless cheque but I need to raise the other £5000.I will then balance transfer the whole lot onto Texaco.Do you think that is cheaper in the long run or should I keep changing and get 0% on different cards.I will look at doing the SBT for the remaining 5k.