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CC 0% Purchase criteria
MFF
Posts: 8 Forumite
in Credit cards
Hello, I've just been accepted for a 0% purchase CC with a hefty limit. I'm looking to shift my everyday spending onto this and using the money saved to overpay on the remainder of my mortgage. I'm just wondering if certain things qualify as purchases, namely paying off my annual council tax bill with it and my car insurance. I also have a car PCP balloon final payment due soon but I guess that would be inelligable to pay off with the CC? Thanks in advance for any replies.
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Comments
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Ask your council if they accept cards.
Car insurance is a purchase.
You'll need a money transfer option for the finance.1 -
if council tax accepts card it would be a purchase - car insurance/tax certainly is. The things to avoid are anything to do with cash - such as foreign currency, cash withdrawals, cash advances - and gambling which includes raffle tickets, lottery. I have also had fundraising website payments fall foul - go fund me / just giving type of transactions.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.1 -
Your idea is fine but if you are using your everyday money to pay bills how will you pay off the debt that will accrue when the promotional period ends?0
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I'm not sure what you mean. I'm going to use the CC to pay off my council tax in one lump sum, along with everyday things like food, entertainment, car costs etc. The money I save from doing I'm going to add to the overpayments on my mortgage in order to (hopefully) get it paid off by the end of the year, basically a kind of reverse debt consolodation if you will. I should easily be able to pay off the card before the 20 month 0% rate ends.jonesMUFCforever said:Your idea is fine but if you are using your everyday money to pay bills how will you pay off the debt that will accrue when the promotional period ends?0 -
That's fine then - I thought that you might run out of money by the end of the promotional period but you seem to have this covered.1
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I use mine to pay my council tax each month and is treated as a purchase. It is an interest free card but clear the outstanding balance the following month.MFF said:Hello, I've just been accepted for a 0% purchase CC with a hefty limit. I'm looking to shift my everyday spending onto this and using the money saved to overpay on the remainder of my mortgage. I'm just wondering if certain things qualify as purchases, namely paying off my annual council tax bill with it and my car insurance. I also have a car PCP balloon final payment due soon but I guess that would be inelligable to pay off with the CC? Thanks in advance for any replies.0
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