We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
New lass seeks advice on recommended credit card to buy card insurance with?
Lizbetty
Posts: 979 Forumite
in Credit cards
Hi folks! I'm new to these forums, and also to the world of credit cards (always avoided them cos I know how easy it is to end up in a mess - I'm not very organised I'm afraid! ).
However, my car insurance is due up in August, and I was thinking of putting the cost onto a 0% card over 12 months rather than paying the insurance companies high rates for monthly instalments. Does anyone have any suggestions or know of any pitfalls with this? I will be strict to make sure I clear what I need to to avoid interest, I just don't have a clue about credit cards and all that small print.
Thinking of the Halifax 0% for one year card, but hesitating in case there's a catch! Any advice would be appreciated! Many thanks, Luce
However, my car insurance is due up in August, and I was thinking of putting the cost onto a 0% card over 12 months rather than paying the insurance companies high rates for monthly instalments. Does anyone have any suggestions or know of any pitfalls with this? I will be strict to make sure I clear what I need to to avoid interest, I just don't have a clue about credit cards and all that small print.
Thinking of the Halifax 0% for one year card, but hesitating in case there's a catch! Any advice would be appreciated! Many thanks, Luce
0
Comments
-
No catches. Halifax is OK. But:
1. Never miss min. payments. Set up a Direct Debit on your current account for this.
2. Don't waste saved money - put it into good saving account.
'Best Credit Card for Purchases (when you need to borrow to spend) ' Martin's article. Link to all articles - in the green bar above.0 -
Hi, crikey, thanks so much for your quick response! I do have some spare income - I'm getting maternity allowance for 6 months, I'm halfing it and putting half aside to make it last a year as I don't intend returning to work for at least that period of time. I'll have a good look on here for best savings accounts for the other half, as it's sat in the bank earning not v much just now. I hate losing interest on money, esp as we're living on beans so I can stay at home with the little un! Glad I found this site, it's such a minefield getting the best deal/shopping around. Thanks again!
Best regards, Lucy0 -
Lucy, A&l on line saver pays 5% APR but only pays it yearly. ING pay 4.75% APR and they pay it monthly. That is 2 for you to consider, there are others.
John0 -
grumbler wrote:No catches. Halifax is OK. But:
1. Never miss min. payments. Set up a Direct Debit on your current account for this.
also check when they're taking the first DD payment so you don't end up missing it thinking your DD is going to cover it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards