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Credit card 0%.
gunboat4
Posts: 81 Forumite
in Credit cards
Hi, we need to replace our Combi boiler at home. I’m after a card were I can borrow £2000 . I would then like 2 years to pay it off. Possibly want to pay off in full before the 2 year agreement . I’ve heard you pay no interest as the lenders make their money when you struggle to pay off in the agreed time. Any advice would be great as I have no idea. Thankyou.
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Comments
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Do an eligibility check and see what your % chances of approval are0
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I just had a look and a lot of virgin cards say 10/10 chance of obtaining card. Is that the sort of card I’m after I wonder?0
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You would need to get a 0% Purchase card, assuming whoever you buy the boiler from accepts credit cards.1
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Could I not just get the card, withdraw cash and then pay card back?0
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Sure but unless you have a money transfer card you will be charged interest and a cash transaction fee from day one which will not be the 0% offer you’re looking for.gunboat4 said:Could I not just get the card, withdraw cash and then pay card back?Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:0 -
Cash from a credit card is LAST resort only, never take cash out of credit card ( unless it's a very very last resort ) , plenty of topics to search for that .... With credit card cash withdrawal you get no interest free period at all ( not even a day ) , not 0 % and get charged high % + a fee. Get a 0% purchase card ( only way to get a free loan ) , if you can't , any decent % fixed term loan is much cheaper than a credit card with interest.
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ok, thanks. I’m with HSBC . Do banks do a 0% card over 2 years?0
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O% Deals in general are getting more difficult to get at the moment because of Covid19 and its effect on employment and the economy. Perhaps your best bet would be to check with your own bank whether they can offer you a card (make sure first that whoever fits your boiler accepts card payments) to see which is best for you.gunboat4 said:ok, thanks. I’m with HSBC . Do banks do a 0% card over 2 years?1 -
Ok, thanks.0
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Just to reiterate, drawing cash on a credit card is bad for your credit rating, and will not qualify for the special offer.
If the boiler firm does not take cards, then maybe you could use the credit card through PayPal if they take that? Someone please correct me if that's a bad idea, but i think it counts as a purchase.
Failing that, a money transfer credit card, transferring to your own account, may get you a deal you are happy with.1
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