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Options on paying PCP balloon payment
Comments
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Santander consumer finance which manages a lot of car finance (Kia, Hyundai) takes credit cards and i have successfully made several car pcp payments via a rewards credit card to get the points, and they have not been treated as cash advances.1
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I think it really will depend on a) who the lender of the PCP is and b) what MCC is used between the lender and CC company to determine whether cash advance or not.
You could try a small overpayment on a CC (providing allowed) to determine whether likely to be treated as a CLT. In my experience, Barclaycard has proven to be the least restrictive where payments have been concerned - I.e - I’ve paid off another CC via the BC before now.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 - Stoozing0 -
Would be an exceptionally small lender if they were paying fees anything like thatdcfc67 said:Why would a finance company accept a credit card for say a payment of 10K for instance and they pay a 2-3% handling fee to accept your payment0
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