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0% purchase card to pay finance deal on a tv
ali137
Posts: 374 Forumite
in Credit cards
Hi
I am thinking of getting a LCD from a company that offers 0% finance for 12 month.
My question is can i pay the finance company before the 12 month is up with a 0% on purchases credit card and not charged interest (by the credit card company) as long as i pay the minimum payment???
Is paying the finance company classified as a purchase?
Help
I am thinking of getting a LCD from a company that offers 0% finance for 12 month.
My question is can i pay the finance company before the 12 month is up with a 0% on purchases credit card and not charged interest (by the credit card company) as long as i pay the minimum payment???
Is paying the finance company classified as a purchase?
Help
0
Comments
-
No, paying off an existing loan account (the LCD TV) would count as a 'balance transfer' not a 'purchase' item. Additionally not all credit cards will balance transfer a loan - although some issue cheques which act as cash substitutes that would allow you to do this.
What you need to do is purchase the LCD TV with the credit card and avoid 'finance' altogether.....under construction.... COVID is a [discontinued] scam0
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