Options!
LJ92
Forumite 1 Post
Guys! I've only just signed up to this MSE Forum malarkey so I'm a little bit lost!
I'm 26 and never had a credit card however I am finding myself in need of an extra £500 next month to cover the rest of a final payment needed to pay off my baloon payment on my car. I don't really know much about balance transfer cards and as much as I google I find myself a bit bamboozled! Am I better to use my £750 over draft (I don't normally touch this) to take the money out of and pay back with the balance transfer or get a normal purchase credit card and use it to purchase my every day spendings equating to the £500 I need in order to put that money towards the payment?
Obviously I would go for a 0% interest for as long as I could get it. (After paying off my final payment I will have an extra £160 a month that I have been paying towards the car so that will pay off the money used). I am aware that I could just use my over draft however I find the thought of so much of my wage being swallowed up in the overdraft for the first couple of months rather stressful!
I am probably sounding really dramatic - I just don't know what the best option is because I don't know enough about it!
Thank you x
I'm 26 and never had a credit card however I am finding myself in need of an extra £500 next month to cover the rest of a final payment needed to pay off my baloon payment on my car. I don't really know much about balance transfer cards and as much as I google I find myself a bit bamboozled! Am I better to use my £750 over draft (I don't normally touch this) to take the money out of and pay back with the balance transfer or get a normal purchase credit card and use it to purchase my every day spendings equating to the £500 I need in order to put that money towards the payment?
Obviously I would go for a 0% interest for as long as I could get it. (After paying off my final payment I will have an extra £160 a month that I have been paying towards the car so that will pay off the money used). I am aware that I could just use my over draft however I find the thought of so much of my wage being swallowed up in the overdraft for the first couple of months rather stressful!
I am probably sounding really dramatic - I just don't know what the best option is because I don't know enough about it!
Thank you x
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Replies
Try an eligibility checker to see what you might get - but it may be that you need to use your OD. If you do, clear it as soon as you can.
Build up a savings buffer in the coming months so you don't need to fall back on credit.
Nice to see that some people still know how to write unconvincing home page spam posts.