Advice, please......

valleylass

My OH purchased a new TV just before Xmas on HP, interest free for 6 months. The intention was to pay off the remaining balance before the 6months were up. He has had an accident in work and doesnt get paid sick pay, so at the moment he's receving Statutory Sick Pay.

I'm paying all of the other bills that we have, but we dont have enough savings to pay off the outstanding balance of the TV, I think its about £400 in total. We want to pay the TV off in full asap in order that we dont have to pay interest on the purchase. I was thinking of applying for a 0%interest CC to cover the cost, I can then pay this off over the next few months.

What would be the best way for me to do this? Would it be to pay the outstanding balance on my current HSBC CC which has about £100 on it at the moment, and then apply to balance transfer? or to apply for a new CC now and pay the TV off as a purchase?

Many Thanks in advance for all your help!:A

jonesMUFCforever

The quickest way is to ask HSBC (once the balance is cleared) what offers they have on balance transfers.
They might offer you an interest free deal or more likely a LOB at say around 6.9%

If they say nothing doing then start looking around for a new card.

NickX

To pay off a HP arrangement from a Credit Card you are going to need a SBT (Super Balance Transfer) card.

These allow you to transfer up to around 90% of the Credit Limit to your current account. From there you can directly pay the HP company.

Only a few special cards have this facility. They include Egg, Egg Money and any card from the MBNA stable (including the Virgin range of cards).

In addition Mint periodically issue Credit Card cheques that can be paid into a current account, however this is the least satisfactory option because you don't know precisely when the Credit Card cheques are going to turn up.