Holiday on credit card - free money?

shazkhan111

Hello

I am trying to book my holiday on my credit card, I have a Lloyds card with an interest free period. Is there any other way of paying for this holiday without paying the 2.5% charge that my travel agent wants to levy for paying on a credit card?

Any other cash flow assistance or other cards that will allow me to get cash or pay without a fee.

Thanks

Tixy

Are you paying by credit card for the additional purchase protection? or because you don't have the funds to pay for it straight away?

If you need to borrow the money you will probably struggle to borrow for less than that fee (although it would in part depend on how long it will take you to repay the debt).

If you have the funds saved and are only using the card for the payment protection then just pay a deposit on the credit card and pay the balance by debit card.

shazkhan111

Thanks Tixy

I am paying on the card for cash-flow as I would like to put it on the card to allow myself time to pay it back.

If there was a way to debit the credit card and credit my current account (or even the agent) not having to pay the fee that would be useful. A Paypal type thing would work but naturally the agent does not accept Paypal.

YorkshireBoy

Does the Lloyds card have an equal 0% period on BTs?


If so, what about transferring a balance from another of your cards (that you pay in full, or don't currently use), and asking for the credit balance refunding to your current account.


Works with MBNA from personal experience.

shazkhan111

Yorkshireboy not sure I understand this process. Please clarify?

Tixy

shazkhan111 wrote: »

Yorkshireboy not sure I understand this process. Please clarify?

If your lloyds cards has 0% on balance transfers then you transfer the £4k from there to another credit card that doesn't have a balance on it, putting the second card in credit. Then you phone that card company and ask them if they will repay the credit balance on your account in to your bank.

Some card companies will agree to do this credit back to you, some will not. And occasionally it may cause some to close down your account with them.

It depends on you having a 0% deal balance transfer deal on your lloyds card and on what balance transfer fee you have to pay (and how that compares to the 2.5% the travel company want to pay), and on you having another credit card with no balance or a small balance.

MallyGirl

shazkhan111 wrote: »

Thanks Tixy

I am paying on the card for cash-flow as I would like to put it on the card to allow myself time to pay it back.

If there was a way to debit the credit card and credit my current account (or even the agent) not having to pay the fee that would be useful. A Paypal type thing would work but naturally the agent does not accept Paypal.

you would need a money transfer (also called super balance transfer) card for this - they always charge a fee so you will end up paying somewhere along the line

thebritishbloke

Your easiest option is to just swallow the 2.5% fee and get the 0% purchases period on your current credit card... You'll end up paying a higher fee to get a money transfer.

YorkshireBoy

thebritishbloke wrote: »

Your easiest option is to just swallow the 2.5% fee and get the 0% purchases period on your current credit card...

Agreed.

You'll end up paying a higher fee to get a money transfer.

Unless you get 24 month 0% product MBNA are offering with a 1.94% fee of course.

Kittycat1981

Book with another agent that allows paypal transactions- Such as travel republic. Monanch airlines also allow paypal transactions.