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0% card used as a "loan"??
nannoo1955
Posts: 65 Forumite
in Credit cards
Is there any reason I couldn't ask for a lot more that I owe on a balance transfer card, then transfer the whole amount to my credit card, and then transfer the surplus to my current account?
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Comments
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Just the risk they send the surplus back and close your account.0
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You could try the MBNA card that offers a 4.9% card with no fees for balance transfers and money transfers until 20220
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You'd be better off looking for a money transfer card.
As for why not? Well, you'll be spending this money? Can you pay that off back before the 0% expires?
If no, do not do it, do not even consider it. DO not fall for the "I'll just get another 0% card" trap because your debt will only go one way, up. Then the 0% deals will dry up and then you'll be in the toilet.
If you can get a 0% deal to BT, do it, then get that debt sorted, don't think "Ooh, free money" and get yourself into the start of a debt spiral.
In debt and looking for help? Look here for the MSE Debt Help Guide.
Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.0
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