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  • FIRST POST
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 6:36 PM
    • 41Posts
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    Wrath_of_Kain
    Purchase then 0% Transfer ?
    • #1
    • 18th Nov 19, 6:36 PM
    Purchase then 0% Transfer ? 18th Nov 19 at 6:36 PM
    The youngest wants a top of the range IPad with all the bells n whistles i.e. pencil, keyboard and ear pods c. 1400 ..... the eldest is yet to hit me with her santa list

    I am waiting for the sales and was going to get it on my credit card and then immediately do a 0% balance transfer to one of my other credit cards.

    Obviously there is the 3% charge but thinking that will hopefully be offset by the xmas sales saving and lets me break down the cost over say 18months.

    Is there anything else i need to consider ? it should be straightforward or is there a delay between purchasing and transfer which exposes me to interest on the purchasing card ????
Page 1
    • Gary_Dexter
    • By Gary_Dexter 18th Nov 19, 7:04 PM
    • 6,983 Posts
    • 4,645 Thanks
    Gary_Dexter
    • #2
    • 18th Nov 19, 7:04 PM
    • #2
    • 18th Nov 19, 7:04 PM
    Do you have a 0% BT card to transfer the purchase to?

    Does said person REALLY need said iPad and all the gubbins?
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 7:09 PM
    • 41 Posts
    • 3 Thanks
    Wrath_of_Kain
    • #3
    • 18th Nov 19, 7:09 PM
    • #3
    • 18th Nov 19, 7:09 PM
    Do you have a 0% BT card to transfer the purchase to?

    Does said person REALLY need said iPad and all the gubbins?
    Originally posted by Gary_Dexter
    No shortage of 0% balance transfers on my other cards.

    And tbh she rarely asks for much ....but when she does .... boyo
    • Ben8282
    • By Ben8282 18th Nov 19, 7:32 PM
    • 4,273 Posts
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    Ben8282
    • #4
    • 18th Nov 19, 7:32 PM
    • #4
    • 18th Nov 19, 7:32 PM
    If you use a card with an interest bearing balance then yes obviously you will pay interest on the purchase until the balance is cleared by the balance transfer.
    If the card has no interest bearing balance (i.e has a nil balance or is currently being paid in full every month) then you will not be charged interest on the purchase so long as you repay by the payment due date which should be more than long enough to do the balance transfer.
    • zx81
    • By zx81 18th Nov 19, 7:41 PM
    • 24,334 Posts
    • 27,121 Thanks
    zx81
    • #5
    • 18th Nov 19, 7:41 PM
    • #5
    • 18th Nov 19, 7:41 PM
    I am waiting for the sales and was going to get it on my credit card and then immediately do a 0% balance transfer to one of my other credit cards.
    Originally posted by Wrath_of_Kain
    There's been an odd trend of people wanting to do this recently.

    Why not get a 0% purchases card and save the hassle and the fee?
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 7:55 PM
    • 41 Posts
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    Wrath_of_Kain
    • #6
    • 18th Nov 19, 7:55 PM
    • #6
    • 18th Nov 19, 7:55 PM
    If you use a card with an interest bearing balance then yes obviously you will pay interest on the purchase until the balance is cleared by the balance transfer.
    If the card has no interest bearing balance (i.e has a nil balance or is currently being paid in full every month) then you will not be charged interest on the purchase so long as you repay by the payment due date which should be more than long enough to do the balance transfer.
    Originally posted by Ben8282
    Oh yes it will be transferred well before the due date my only concern was the processing time and timing between purchase and transfer.
    • Ben8282
    • By Ben8282 18th Nov 19, 7:59 PM
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    Ben8282
    • #7
    • 18th Nov 19, 7:59 PM
    • #7
    • 18th Nov 19, 7:59 PM
    Oh yes it will be transferred well before the due date my only concern was the processing time and timing between purchase and transfer.
    Originally posted by Wrath_of_Kain
    Processing time can vary but it normlly should be quite quick a matter of a few days.

    I understand that there may be reasons for not wanting to apply for a new card at this time but have you considered the suggestion of obtaining a new 0% purchases card and saving yourself the fee?
    Last edited by Ben8282; 18-11-2019 at 8:01 PM.
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 7:59 PM
    • 41 Posts
    • 3 Thanks
    Wrath_of_Kain
    • #8
    • 18th Nov 19, 7:59 PM
    • #8
    • 18th Nov 19, 7:59 PM
    There's been an odd trend of people wanting to do this recently.

    Why not get a 0% purchases card and save the hassle and the fee?
    Originally posted by zx81
    Firstly I have a few cards and I promised myself not to put any more plastic in my wallet after clearing them all.

    BUT

    I hadn't realized the 0% could be as long as it is on those cards, MBNA is 26months . I suppose my only concern now would be having one ready and waiting before the sales start in earnest. Also if I already have an MBNA card can i apply for another one ?
    • Ben8282
    • By Ben8282 18th Nov 19, 8:06 PM
    • 4,273 Posts
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    Ben8282
    • #9
    • 18th Nov 19, 8:06 PM
    • #9
    • 18th Nov 19, 8:06 PM
    I don't like that MBNA card (as a purchases card; it is OK as a balance transfer card) because it requires all purchases to be made in the first 60 days which effectively makes the card useless for further use. It is not a proper 0% purchases card.
    The Sainsburys card has a good 0% purchase period without the 60 day restriction (unique to MNBA) which means you can continue using it for purchases throughout thee 0% period.
    There are other cards as well. In my opinion, best to apply to a provider that you don't already have a card with.
    Last edited by Ben8282; 18-11-2019 at 8:11 PM.
    • Gary_Dexter
    • By Gary_Dexter 18th Nov 19, 8:28 PM
    • 6,983 Posts
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    Gary_Dexter
    Apple rarely offer brilliant discounts on things even on Black Friday and Cyber Monday.
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 10:18 PM
    • 41 Posts
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    Wrath_of_Kain
    Apple rarely offer brilliant discounts on things even on Black Friday and Cyber Monday.
    Originally posted by Gary_Dexter
    I am not a big fan of them tbh ..... hoping just a few quid ..... will probably do JL for an extra year warranty so suppose thats worth something in the scale of things
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 10:21 PM
    • 41 Posts
    • 3 Thanks
    Wrath_of_Kain
    Processing time can vary but it normlly should be quite quick a matter of a few days.

    I understand that there may be reasons for not wanting to apply for a new card at this time but have you considered the suggestion of obtaining a new 0% purchases card and saving yourself the fee?
    Originally posted by Ben8282
    Just did it earlier .... got knocked back on the MBNA as i already have 2 cards .... but i picked up on the other so thats the 0% sorted and i think the card should be with me by the end of the week .... super duper
    • Wrath_of_Kain
    • By Wrath_of_Kain 18th Nov 19, 10:23 PM
    • 41 Posts
    • 3 Thanks
    Wrath_of_Kain
    There's been an odd trend of people wanting to do this recently.

    Why not get a 0% purchases card and save the hassle and the fee?
    Originally posted by zx81
    Thanks btw as above .... that should be me sorted ...... just never occured to me that these cards promotions went so far ..... so most happy to get 22 months 0 % ..... the only thing is in the setup it wouldnt let me set the amount on the DD ... would only allow full or min payment ? .... surely they will let me adjust it ?
    • Ben8282
    • By Ben8282 19th Nov 19, 12:48 AM
    • 4,273 Posts
    • 2,359 Thanks
    Ben8282
    Thanks btw as above .... that should be me sorted ...... just never occured to me that these cards promotions went so far ..... so most happy to get 22 months 0 % ..... the only thing is in the setup it wouldnt let me set the amount on the DD ... would only allow full or min payment ? .... surely they will let me adjust it ?
    Originally posted by Wrath_of_Kain
    If you applied for the Sainsburys card then yes you can adjust it to a fixed amount in online bvanking after you get the card. Incidentally, if you do do any shopping at Sainsburys the Nectar points from your Nctar card plus the points earned on this card will have a refemption value equal to cashback at 1.5% when redeemed at Sainsburys so that could be woth your wjile too.
    • Wrath_of_Kain
    • By Wrath_of_Kain 19th Nov 19, 7:43 AM
    • 41 Posts
    • 3 Thanks
    Wrath_of_Kain
    If you applied for the Sainsburys card then yes you can adjust it to a fixed amount in online bvanking after you get the card. Incidentally, if you do do any shopping at Sainsburys the Nectar points from your Nctar card plus the points earned on this card will have a refemption value equal to cashback at 1.5% when redeemed at Sainsburys so that could be woth your wjile too.
    Originally posted by Ben8282
    Strangely enough when i applied i saw them mentioning nectar points so quickly registered for a rewards card so should benefit from that too.

    Thankful i popped on here to sound you all out .... it now leaves me with a manageable budget and potentially saving a bit of cash.
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