31 months interest free

steveyme

Hi guys! I'm quite a careful person with money, so I just wanted to make sure I had this right: I'd love to have a new boiler fitted. I've been quoted £3200 and the fitter does accept credit cards, so if I was accepted for a Sainsbury's 0% interest card (I strongly believe I would be), am I right in thinking I could do the following? Repay appx £105 a month over the course of 31 months, and expect no interest, penalty charges or hidden costs on this? It almost sounds too good to be true! Can it be so simple?

[Deleted User]

Yes it can.

Candyapple

Yes it is that simple. People usually fall foul of 0% deals because they don't usually clear their balances before the end date - thus they start incurring interest.

Here is the eligibility checker:
https://www.moneysavingexpert.com/eligibility/credit-cards/

MallyGirl

as long at £105 is at least the minimum payment required then it will work fine

Candyapple

MallyGirl wrote: »

as long at £105 is at least the minimum payment required then it will work fine

Sainsbury's is 2.25% of the balance so the min repayment would be £72 per month. OP can just make a manual payment of £33 each month to top it up to make sure they clear their debt before the end of the 0% period.

FormulaDriven

I've recently applied for this card, and I think one of the options in setting up a repayment direct debit is to specify a £ amount repayment each month. Personally, I'd probably be cautious and do 3200 / 30 rather than 31 just to make sure it was paid off within the interest-free period.

steveyme

Thanks all!