Holiday Conundrum

Woodstar711

Hi

 I think this is classed as a stoozing question, apologies if not

 I have been saving for the last 4 years for a major holiday for my wife’s 50th. I have the cash now in an easy access account, ready to pay in Feb. 

 I thought that I could squeeze more out of this situation by putting the cost of the holiday on a 2yr 0% credit card, paying the minimum amount and then putting the money saved in a 2yr fixed rate bond. 

 This is when the problems started

1. The CC company would only give me a credit limit for 70% of the holiday cost

2. I could get another 0% card but the holiday company will only accept one card for payment

 I could try and pay a lump into my CC meaning I would be in credit and thus be able to use one card for the transaction but the CC company isn’t sure if the payment will be accepted or not

 I can’t add money to a paypal because that would be a cash transfer and the costs would be crazy

 I can’t ask for an increase in credit limit as it’s a new card

 Any thoughts or experience of this situation especially around overpaying a credit card and effectively being in credit myself

 At 5% interest for a 2yr bond I am desperate to earn that money rather than pay everything up front to the holiday company. 

 Thanks for any feedback

Woodstar

[Deleted User]

Will the holiday firm accept a cash deposit for the balance?

Don't put your card in credit, it's against the terms of use and will normally result in the funds being sent back or at worst, the card being closed

Alternatively did you get a 0% purchase or balance transfer card (or both)? You could still do the stoozing by paying for normal goods on the 0% card and thus not paying cash and keep the money in the savings account. If it's a BT card, try and work out what else you can buy in advance that you need, non-perishable goods etc, buy them all, balance transfer off and save money that way