Buying a £1000 item on a 0% interest credit card

dreamvendour · 15 October 2020 at 11:46AM

Hi all,
I'm planning a big purchase and wondering if it'll be wise to pay for it using a new credit card like Sainsbury's Nectar and pay it either in equal installments or just by minimum monthly payment. Are there any disadvantages I need to be aware of? Obviously, I'd pay it off by the time interest-free offer ends.
Thanks!

[Deleted User] · 15 October 2020 at 11:49AM

Only the increased indebtedness, which may or may not be a problem for you.

dreamvendour · 15 October 2020 at 11:54AM

Deleted_User said:

Only the increased indebtedness, which may or may not be a problem for you.

Hey thanks for your reply! so if I'd like to take out a mortgage, that 1000 in debt would be counted against the amount I can borrow?

[Deleted User] · 15 October 2020 at 11:58AM

Yes.

Paully28 · 15 October 2020 at 1:43PM

I would say it is a great idea, as long as you can stick to the 1000/'interest free period' as the amount you pay off each month. Perfect way to spread costs without paying extra.