Sainsburys 0% Deal - 12 Months

OMAR

How do I go about getting the money into my bank account using the above card as the offer is for purchases only......I am aware of PayPal but really need more info to be honest.

Clariman

I am not aware of any way of getting 0% purchase money into a bank account, other than gradually. i.e. you put most of your monthly spending on the credit card. At the end of the month make the minimum payment and then move the rest into a savings account. e.g Let's assume that you spend £1500 on your sainsbury's card in month 1, so that is what you owe on your statement. Assuming that the minimum monthly payment is 2% (£30), pay £30 off the card. At the same time, move £1470 (i.e. the rest of the monthly balance) into a savings account rather than using it to pay off the full balance. Do a similar thing over subsequent months and you will have built up a decent stooz pot bit by bit. At the end of the 12 months you can then do an ordinary Balance Transfer from the Sainsbury card to any other 0% on BT's card.

Clariman

cifpower

I think he is talking about doing a stooz from the card to his account like Egg or Virgin (MBNA). It can't be done directly with Sainsbury's.

Chadsman

If you have a relative or trusted friend who has a large purchase to make in the near future you could offer to put it on your CC and have them give you the cash.

Big_Nige

Clariman wrote:

I am not aware of any way of getting 0% purchase money into a bank account, other than gradually. i.e. you put most of your monthly spending on the credit card. At the end of the month make the minimum payment and then move the rest into a savings account. e.g Let's assume that you spend £1500 on your sainsbury's card in month 1, so that is what you owe on your statement. Assuming that the minimum monthly payment is 2% (£30), pay £30 off the card. At the same time, move £1470 (i.e. the rest of the monthly balance) into a savings account rather than using it to pay off the full balance. Do a similar thing over subsequent months and you will have built up a decent stooz pot bit by bit. At the end of the 12 months you can then do an ordinary Balance Transfer from the Sainsbury card to any other 0% on BT's card.

Clariman

This is what I am currently doing, they always up the credit limit as I get close to it.