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Card 0% Loan?
Fix_Rate
Posts: 26 Forumite
in Credit cards
I want a loan to buy a car. I don't want to pay interest (obviously). Can i use credit cards on 0% deals and transfer the balance when one deal runs out to another? Is this a 'safe' thing to do?
0
Comments
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Yes, although if you use a 0% on purchases card (and if indeed the dealer will accept such a payment) you will probably be charged the 2% or so merchant fee the dealer will incur - and if you aren't, then you didn't haggle enough!I want a loan to buy a car. I don't want to pay interest (obviously). Can i use credit cards on 0% deals and transfer the balance when one deal runs out to another?
An alternative may be to use a card that will transfer money into your current account at 0%, such as Egg or MBNA.
It depends on your credit-worthiness, income, organisational skills, and if (cost effective) BT deals are still around when you need to transfer the debt.Is this a 'safe' thing to do?
Getting it wrong could cost you a lot of money.0
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