Is it worth getting a credit card?

dgotham65

I was wondering if it is worth applying for a credit card to pay a £5k bill, then pay it off in full and cancel the card within a month. My son has a final instalment to pay for his wedding and the finance company have told him his funds will be available AFTER his wedding day 😡😡😡

[Deleted User]

It could be, depending on the circumstances.

dgotham65

Was thinking that. Could get one within a week, just depends on credit limit

grumbler

£5K final installment?!
Would it not be wiser to save for wedding or do this cheaper instead of starting his family life with a huge debt burden?

What's the point in paying by a CC only to pay it off in a month? Try getting a Spending 0% Card or the one offering 0% on Money Transfers - and ditch the finance company. That said, depending on the credit history, an ordinary card can be easier to get.

[Deleted User]

If it's a first card, then 5k is probably unlikely.

dgotham65

Final instalment is probably the wrong term. It'd the bill for the venue. He's away from home with the army and his future missus has done most of the planning. The problem is the loan was due in June but the company moved the payment date. We want to help him, but the remortgage we were getting anyway won't be complete in time. You do what you can to help your kids, right??

boo_star

dgotham65 wrote: »

Final instalment is probably the wrong term. It'd the bill for the venue. He's away from home with the army and his future missus has done most of the planning. The problem is the loan was due in June but the company moved the payment date. We want to help him, but the remortgage we were getting anyway won't be complete in time. You do what you can to help your kids, right??

You're unlikely to get a 5k limit with your first card, even with a fairly high salary. If you try your own banks CC you may get a higher limit as they can at least see your income and expenditure.