0% Purchases Card

ackers2001

Hi, I'm going to be paying off a holiday soon and what with cash being tight at the moment I was looking at getting a 0% on purchases card. I did see one not so long ago giving 15 months but I think the best at the moment is 12 months?

Question is though does the 0% start as soon as the card arrives and do they charge anything for using the card on a purchase.

p.s Ive never had a credit card.

CLAPTON

If you have never had a credit card and presumably don't have much of a credit history, then you may have difficulty in getting a 0% card as these are usually offered to people with excellent credit ratings.

However, if you do get a 0% on purchases card then the CC will charge you no interest on purchases during the promotion period.

You will need to pay the minimum amount each month usually 2.5 - 5 %

Do not draw cash on any CC.
Note that buying foreign currency counts as a cash advance.

If you use it abroad you will be hit with a foreign currrency surcharge (typically 2.75%) unless its a Nationwide or PO CC.

Some retailers in the UK especially travel agents charge for the use of a CC .. typically 2% but check before you spend.

You need to check when the 0% period starts .. it may be when the application is approved.

ackers2001

Thanks for your reply, exactly what I wanted to know.

Cheers