Credit Card for Spending Discussion Area

follyfoot

ms00skr wrote: »

Hi

I am interested in getting the Tesco credit card. I am aware that it is 0% for 13 months and I plan on paying it off in full monthly anyway as I simply want the clubcard rewards.

When the 13 months is over and I pay the card off in full every month do I pay any interest?

Thanks

either you pay the card off in full, then there is no interest to pay or you pay a certain amount each month off the balance and yes, you will pay interest

caroline1963

There is a mind boggling array of information here. I want to pay the remaining amount of money owed on my car in October, £5,000, and want to do it as cheaply as possible. I could pay off the loan in 12 months, however, I would prefer a longer period, preferably up to 18 months. Although I haven't applied for a loan yet, I would guess I have a healthy credit rating. What should I do??

olive02

We have a few credit cards at their limit, what can we do as we always pay more than the minimum but it is a real struggle each month! As one is with our bank they can see the salary going in and know we can pay it but it is crippling, any ideas? if it is changed into a refinance loan then it will affect the credit rating for longer?

johnniebj

If I get a nil-rate credit card and use it to transfer a balance from another card, I am charged a transfer fee. Is that treated as a purchase? If so, will this 'purchase' remain on the account (and therefore attracting interest) until all the actual balance transfer (which doesn't attract interest) is paid off? I think this, as lower-rate balances are paid off before higher-rate balances. It won't be much interest, of course, but I wonder if my thoughts are correct...

tinalives

Re-posted on another thread.

tinalives

My OH has just sold his house and moved in so we've just paid off our mortgage.

I'm planning on using a 0% credit card to buy a car, and pay it off in full at the end of the interest free period.

Does anyone know whether I'm likely to be offered a higher credit card limit after the mortgage is showed as settled on my credit file?

I'm trying to work out whether it's best to apply for a 0% card now, or in a couple of weeks when my credit file has been updated.

Thanks.

hmcc

Am I being really dumb? I'm new so bear with my ignorance!
I need to transfer £3500 of bank flexiloan and overdraft onto a new 0% balance transfer credit card. How do I do it???? Balance transfers need to be card to card but how do I get it on a card in the first place? I'd really appreciate help :(

ehlo

hmcc, I think you need to look at Super Balance transfers: https://forums.moneysavingexpert.com/discussion/comment/497515#Comment_497515

whaylock

I have just received a letter from Tesco telling me that they are changing me to their new Mastercard Credit Card. I already hold a Tesco Visa Credit Card which is paid off fully each month by D/D. They want me to change and are offering me 650 bonus clubcard points every year with 1 clubcard point for every £2 spent on the card. I have to inform them by 20th February if I wish to keep my Tesco Visa card. Does anyone know what the advantages/disadvantages are of changing. Naturally they don't tell me if I will lose anything.
Many thanks

Wendy

johnthetour

Please note
Two offers are running concurently.
1 up to £250 spend before 31st March Interest free to July statement.
2 over £250 spend before 31st March Interest free to October Statement.

I am told any payments made will be taken off the over £250 spends BEFORE paying off the under £250 spends!!!

Therefore any under £250 spends will accrue interest from July to October!!!!!!!!!

Please warn your readers.

Johnthetour

I Will now pay off EVERYTHING before my July statement to avoid any interest.

I feel cheeted!!

This is close to immoral if not illegal?