New to all this...

Cat8t3

Hi

I ahve been reading trough all your threads. Basically i need some advise, my husband has just changed his job and has to stay away, costing £50.00 per week, money we dont have, until his over time starts coming in we are struggling to find it. We already have a lan and have £2000 in overdrafts. After reading lots of posts, i think it would be a good idea to get a 0% purchase card and spend on that, using our salary to pay off the overdrafts, and then when he starts getting the overtime, pay off the credit card. My other ? is can you get free cash back on CC when you do your supermarket shopping, as he has to pay his accomadation in cash.

Your help would greatly be appreciated, oh also, we would proferrably need 1 credit car with to holders names, ie me and my husband, which cards have this and which card is the best at the moment for 0% purchases.

I was consisering a morgage holiday or calling my morgage provider and asking for a reduction but i feel maybe this would overall cost us a lot in interest.

Thank you in advance.

MPH80

Cat8t3 wrote: »

Hi

I ahve been reading trough all your threads. Basically i need some advise, my husband has just changed his job and has to stay away, costing £50.00 per week, money we dont have, until his over time starts coming in we are struggling to find it. We already have a lan and have £2000 in overdrafts. After reading lots of posts, i think it would be a good idea to get a 0% purchase card and spend on that, using our salary to pay off the overdrafts, and then when he starts getting the overtime, pay off the credit card.

Ok ... well - it might work - are you sure the overtime is going to come through - otherwise you're just paying peter.

My other ? is can you get free cash back on CC when you do your supermarket shopping, as he has to pay his accomadation in cash.

No - only debit cards offer cash back. You could look at the 0% balance transfers and route it via a super BT card into your current account - but those have fees associated with them - so would push your debt up for a period.

we would proferrably need 1 credit car with to holders names, ie me and my husband, which cards have this and which card is the best at the moment for 0% purchases.

Can't help on the purchases bit - don't have time to look it up - but most cards will allow additional card holders.

M.

GeorgeUK

Can i ask why he needs to pay in cash for his accomodation? Is it a B&B that doesn't take cards?

Cat8t3

It is a caravan park, i am persuming they dont take card, although i havent actually asked.

His overtime is garanteed, and lots of it.....:j

smithja

If you get an Egg Money card you can withdraw cash from an ATM and there will not be any charge, as there are with other cards for cash advances, but you will be charged interest from the day of withdrawl, but that is also the case for purchases with this card there is no interest free period. However, the interest rate is the same as the rate for purchases, again differing from other cards. I think it would be the cheapest option if you are looking to borrow the money on a credit card.

James

Karl.H_2

MPH80 wrote: »

No - only debit cards offer cash back.

That's strange because I got £10 cash back at Tesco on my credit card.

JimmyTheWig

If you only need this credit card for the overnight expenses, why not spend £50.00 a week on credit card in the supermarket / petrol station / elsewhere and use the cash that you would have spent on these things to pay the caravan park. Means you have a few things to keep track of, but should be ok.

My concern would be getting accepted for a credit card in the current climate with existing loans and overdrafts.

JimmyTheWig

Karl.H wrote: »

That's strange because I got £10 cash back at Tesco on my credit card.

Are you sure it was a credit card and not, for example, a Visa Delta debit card?
I don't believe that credit ards allow you to do cashback.
Sometimes the cashiers ask if you want cash back, but if you say yes the till tells them that they can't do it.

JimmyTheWig

smithja wrote: »

If you get an Egg Money card you can withdraw cash from an ATM and there will not be any charge, as there are with other cards for cash advances, but you will be charged interest from the day of withdrawl, but that is also the case for purchases with this card there is no interest free period.

Egg Money does have an interest free period for purchases.

Karl.H_2

JimmyTheWig wrote: »

Are you sure it was a credit card and not, for example, a Visa Delta debit card?
I don't believe that credit ards allow you to do cashback.
Sometimes the cashiers ask if you want cash back, but if you say yes the till tells them that they can't do it.

It's a Capital One visa. Next time I am in Tesco, I will ask for cash back and get back to you. I do have a debit card but I am sure I used the credit card.

kazwookie

Does he stay away because he wants to or because the company he works for asks him to??

If it is the latter, it might be an idea to ask them for a 'float' to cover accommodation, or ask that they pay it direct to the supplier.