Which card is right for me Transfer vs Purchase

jacko198

Hi Folks

I am currently after buying a new Macbook as mine has died again and i am trying to figure out the best way of financing it!

I know apple do finance through Barclays, and through PayPal both at 14.% for however long.

I currently have a Capital One credit card with a little bit of a balance left (paying more than the minimum payments etc) but with a credit limit of £1800 at something stupid like 35% i am not keen on using this anymore! As there is a balance, a transfer card could come in handy, but as its not much it isn't that important for this.

I used the Credit Card Eligibility Checker and came back with loads of matches and pre approvals for some decent cards. I just don't know what is right for me.

The laptop is around £1800.

Obviously it is impossible to know what credit limit i can get on a 0% Purchase card so that could be an issue.

Balance Transfer cards - Am i right in thinking you can transfer money from that into your bank account (almost like a loan) OR can you just pay off other credit cards/debts directly with it?
I have been "Pre-Approved for a few 40month 0% cards which sound good.
Again - Im guessing there is a credit limit with these too.

Any help would be great whilst i try and get my head around the best deal for me!

Ben8282

If you have been 'pre-approved' for 'a few' 40 month 0% cards as you claim then why on earth are you carrying a balance on a 35%APR card?

Nebulous2

You need a money transfer card, not a balance transfer one, to move money to your bank account. You're right, there will be a credit limit with them as well.

PeacefulWaters

I am currently after buying a new Macbook as mine has died again

Why remain loyal to a brand that keeps letting you down?

The laptop is around £1800

Oh dear.

Next time you buy this sort of item, you know it's going to fail. Start a savings account straight away and chuck enough money into it each month so that by the time it does fail you can replace it without further debt.

If you are insistent on more long term debt, I think you need two cards. A 0% purchases card and a 0% balance transfer card.

Sainsburys, Halifax, MBNA and AA all offer terms above 24 months for combined purchases and balance transfers at 0%. One of those might be more appropriate, encouraging you to clear debt faster than the 40 month cards.

Nasqueron

Pay off the debt and get a more sensible laptop, almost nobody needs an £1800 brand new macbook especially while paying 35% interest on a credit card

jacko198

I probably shouldnt have said again. The Macbook died after 10 years, i bought it in 2007. Thats is just £10 a month if you break it down. I dont mind splashing out for something that will last me that long again!

Money transfer card sounds like the one, i didnt realise there was a separate type other than Balance so thats saved me some hassle!

20aday

*If* you're wanting to spend £1,800 on a new MacBook (and that's coming from another MSE Apple user) I'd consider John Lewis and their warranty.

Either that OR have a look at Apple's refurbished offerings-as good as new and slightly cheaper to boot.

Nasqueron

When you talk about it "dying again" how many times has it done before? How much were repair costs? As ever with laptop debates, you're paying a huge premium for the apple brand, a laptop with the same spec as an £1800 macbook can be had much cheaper elsewhere and look as good / be as thin / light e.g. Dell XPS 13, Razer Blade Stealth, HP Spectre .

I'm guessing the MacBook Pro 13" as it's £1749 as the standard MacBook are £1249 or £1549 base. As above you can get the refurb ones (currently just the 12" MacBook in stock at varying specs with around 14-15% off)

You could either get a BT card and buy the laptop on one card and transfer the balance onto the 0% card (as well as the Capital One balance to save interest) or get a 0% purchase card and buy on there and just pay it off over whatever period you get or a money transfer card and put the cash into your bank and perhaps buy the laptop and pay off the CO card.