Financial Novice Needs Help

DavieJ

Me and the lady wife are a bit baffled by "stoozing" what we would like to do is that we require about £2,000 to pay for a new combi boiler as ours is getting a bit cream crackered, and the gas fitter will only accept "preferably cash" or a cheque, we were thinking of opening a new credit card with 0% on balance transfers etc, how can we then obtain/convert to the £2,000 cash that we require, and then allowing us chisel away at paying it off during the interest free period, so ! can i do it, and much will it cost me including any transfer fees etc. or can you suggest any other methods.
Regards
Davie J ( Staffordshire )

Bokkens

You will need a card from MBNA such as (Virgin,A&L,Abbey)Mint or Egg.These cards give you a limit that can be Balance Transfered directly into your bank account,you provide those details and it will take up to ten days.
Make sure the card you apply for has a long 0% Balance Transfer offer on it,I would suggest Virgin as they give reasonable limits and a long 0% period of 15months there is a BT fee of 2.98% of the money moved,also they will only allow 95% of your limit as a BT.
So to cover £2000 boiler you will need a limit of £2100,BT 95% =£2000 and the fee will be £59.60.
The first statement will require you pay the £59.60 + (the minimum payment )of £25,there after pay only the minimum payment each month £25 by Direct Debit.
£2000 divide by 14 months = just under £143 per month so you will need to send this via DD to a good saving account paying high interest and allows you to withdraw it in 14mths time so you can pay off Virgin.
I would suggest a tax free ISA account 6.3 with Barclays or 6.05 with Icesave.
Oh yeah do all this over the phone it is quicker as your on the web I would suggest a internet bank for your savings as you can manage them online day or night.
Right that's you sorted.
Good luck.
If you are stuck post here again.

clio

Bokken
would that be a transfer&save or balance transfer with the mint card?
coz i would like to do that with my mint card??