Paying off catalogues with 0%interest free credit card

Miss_to_Mrs

Hi I’m wondering if I can pay off two catalogues simply be and very. They total approx £4500. I’m looking to apply to get the mbna 26 month 0% interest credit card which is a transfer and purchase card.
If this is possible would it be classed as a purchase so wouldn’t attract charges??
I’ve applied for a larger loan yesterday but was declined I think because I’ve already got a large loan in September.
Any help would be appreciated please I just want rid of these debts ASAP.
Thanks

Willing2Learn

Hi Miss to Mrs and welcome to the forum

I know that with Very the transaction counts as a purchase, but I don't know about 'Simply be'. To be certain you are getting a card with the right promotion (money transfer or purchases), I recommend you phone MBNA, before application, to ask whether the 'Simply be' transaction would be classified as a cash or a purchase transaction

Miss_to_Mrs

Thank you for your reply.

Ben8282

If you took out a large loan in September and were declined for another loan yesterday it is possible the credit card application will also be declined.
Assuming that you can pay off these catalogue accounts by credit card as if you were making a new purchase I would imagine that they would be treated as purchases.
Remember though that with the silly purchase offer on this MBNA card you have to make the 0% purchases in the first 60 days so, unlike a proper 0% purchases card, the card then becomes unusable for further purchases unless you want to pay interest on the new purchases as you will not be clearing the balance in full every month. You may be better off getting a proper 0% purchases card from a different provider which will allow you to make 0% purchases for the entire duration of the 0% purchases offer period.

Miss_to_Mrs

Hi. Never thought of the 60 day thing. Thank you

MallyGirl

Miss_to_Mrs wrote: »

Hi. Never thought of the 60 day thing. Thank you

It seems to be unique to MBNA

Ben8282

MallyGirl wrote: »

It seems to be unique to MBNA

It is.
The thing is though that this particular card is being promoted by MSN right at the top of the 0% purchase cards recommendations when in fact in my opinion it is not really a 0% purchases card at all but a quite good (26 months) 0% balance transfer card and a reasonable (12 months) 0% money transfer card which also has a silly little purchases offer. This card belongs on the balance transfer card list not at the top of the purchases card list.
This card is also a trap for the unwary as purchases made after 60 days will be subject to interest as the card is not being repaid in full each month.