We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
How does a 0% purchase CC work in reality?
Options
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie

Hi, have a quick question regarding maybe a purchase using a 0%purchase CC, I have seen one for example that gives you 0% on purchase for 24 months. So say for example you had one of these cards and you wanted to make a decent one off purchase. Could you purchase it on the CC then over the course of the 24 months pay it off, if for any reason you still had an outstanding balance could you then get a 0% balance transfer card and transfer the remaining balance onto that?
Asking because rather than using savings or say a loan with a typical APR of 6-8% you could surely save a lot of money in interest with the CC option.
Asking because rather than using savings or say a loan with a typical APR of 6-8% you could surely save a lot of money in interest with the CC option.
0
Comments
-
Deleted_User said:Hi, have a quick question regarding maybe a purchase using a 0%purchase CC, I have seen one for example that gives you 0% on purchase for 24 months. So say for example you had one of these cards and you wanted to make a decent one off purchase. Could you purchase it on the CC then over the course of the 24 months pay it off, if for any reason you still had an outstanding balance could you then get a 0% balance transfer card and transfer the remaining balance onto that?
Asking because rather than using savings or say a loan with a typical APR of 6-8% you could surely save a lot of money in interest with the CC option.1 -
cymruchris said:Deleted_User said:Hi, have a quick question regarding maybe a purchase using a 0%purchase CC, I have seen one for example that gives you 0% on purchase for 24 months. So say for example you had one of these cards and you wanted to make a decent one off purchase. Could you purchase it on the CC then over the course of the 24 months pay it off, if for any reason you still had an outstanding balance could you then get a 0% balance transfer card and transfer the remaining balance onto that?
Asking because rather than using savings or say a loan with a typical APR of 6-8% you could surely save a lot of money in interest with the CC option.0 -
With the below assumptions you would be correct in your understanding;
- you get approved for the CC
- the merchant you intend to purchase your item from accepts CC payment (in full)
- you get the limit you want
You’ll need to ensure you make EVERY payment on time (minimum at least). Do not assume you’ll be able to transfer balance at the end so plan to have it all paid off by end of promo rate.
Any purchases made during the promo period will continue to be at 0% until the prom9 ends.If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing1 -
There's no such thing as a free lunch.
0 -
Deleted_User said:cymruchris said:Deleted_User said:Hi, have a quick question regarding maybe a purchase using a 0%purchase CC, I have seen one for example that gives you 0% on purchase for 24 months. So say for example you had one of these cards and you wanted to make a decent one off purchase. Could you purchase it on the CC then over the course of the 24 months pay it off, if for any reason you still had an outstanding balance could you then get a 0% balance transfer card and transfer the remaining balance onto that?
Asking because rather than using savings or say a loan with a typical APR of 6-8% you could surely save a lot of money in interest with the CC option.
It is in principle a good way but its dependent on good discipline and things coming together... some may not pay down the 0% purchase card quickly enough and then fail to secure the balance transfer card so end up pay 23% on the CC rather than 6% of a loan.
Secondly, it becomes a rabbit hole for some, they end up not just making the one off purchase but a whole host of purchases and that then increases the chances of not getting a BT card with sufficient limit and then the high CC interest kicks in0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards