Credit card or loan, what do I do?

dinerodinero

Hello all,

Sorry I am new to the board. Can anyone help me, please?

I have to buy a car by next month and I do not have the money.
However I do have a credit card and also a loan, I was thinking to buy it with the credit card and then do a balance transfer to a 0% credit card however the money that I have left on the card it is not enough for the car. What about if I ask the bank to give me more money on the loan and pay it monthly will that help me.

Thank you for all you help and advice.

Emma

Bokkens

This can be a complex purchase,some dealers won't accept cards so that means having the money in place in your account before you buy.
I would suggest not getting any cards unless you know what you are doing and are confident that you won't miss any payments and you can afford it.
Asking the bank for a loan is probably the simplist way forward as they know you best they are likely to leand you waht you want.
Then do some research and get a 0% card later and pay off the loan with this.
A card that allows you to BT money into a bank account is what you should look for say A&L,Virgin,Abbey,MINT,Egg.
Hope that helps.

dinerodinero

Thank you very much for your advice