Have I got the right idea? Paying off 'Your Plan' with a 0% credit card - help!

Rebecca567

So last year we bought a laptop for my boyfriend (been together three years, no issues here), we put it on my Your Plan account at Currys/PC World at a cost of £1007 with the 0% for 12 months. It was intended that my boyfriend would put aside a little every month and he'd pay it off.

It's due at the end of August (where interest will start to be added). In a mix of covid set-backs/work/life, he hasn't got the full sum ready. I don't want him to do something stupid like a payday loan to pay it off. Am I right in thinking I could take out a 0% credit card and transfer the £1007 to that, to give him more time to pay it off at 0% interest? 

I'm mid-twenties and I've never had a credit card, so also thinking this would be a good opportunity for me to get one and build credit (my credit score is good)? 

Yes, I'm aware that this is *his* payment to make etc, but just looking for advice on whether I'm on the right track of this is something doable? I'm not great with understanding finances/options, and have gotten myself into debt before for stupid young-adult things, which is now fully paid off, hasn't affected my credit score, and has changed the way *I* use my money.

Thank you in advance (this is also my first forum post, so hope I've worded everything right!)

born_again

Could he not take it out?

Remember you would need a Money transfer credit card if you are giving him cash.

https://www.moneysavingexpert.com/credit-cards/money-transfers

onlyfoolsandparking

You'll need a credit card that offers a money transfer option to then put said money in your current account then pay off lappy with your debit card.

Whether you'll get approved for a MT card or even get a limit big enough to cover the debt is anyone's guess. Try one of the card providers eligibility checkers, that will give you a fairly decent indication, then you can decide what's best.

I think 'some' of the card providers give you an indication of limit you'll get when you use their eligibility checker, can't remember which though, others on here will know for sure. 

Rebecca567

Struggling to reply to you both but - I wasn't planning on giving him cash? Just transferring the debt to continue 0% timeframe, so he could pay off instalments?

draiggoch

Whatever you do it's going to cost in fees. Has he got any money to reduce the debt?

born_again

Rebecca567 said:

Struggling to reply to you both but - I wasn't planning on giving him cash? Just transferring the debt to continue 0% timeframe, so he could pay off instalments?

You usually can not repay credit account with a credit card. Certainly not a balance transfer one. They are only between credit cards.
So a money transfer would be the only option.
>>been together three years, no issues here << yet you do not want to give him the cash to pay it off? That sounds like you think he will spend it elsewhere.
If you got a money transfer card you could put it into your bank account and pay the debt that way.

Far better for him to apply for a 0% card and deal with it himself.