BillHop query
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Stuart_W
Posts: 1,732 Forumite
Just wondered if any folk on here have used the BillHop service with a 0% credit card on here.
It's basically a third-party payment provider who will transfer payments for a 2.95% fee, so advertises itself as a way to pay bills that can't be paid with a credit card.
Does the "BillHop" transaction go through as a purchase and qualify for any applicable 0% deal, or is it picked up as a cash-like transaction and treated like a cash withdrawal with different interest rates?
I have curve for where debit cards are accepted but wondered if Billhop also works as counting as a purchase.
It's basically a third-party payment provider who will transfer payments for a 2.95% fee, so advertises itself as a way to pay bills that can't be paid with a credit card.
Does the "BillHop" transaction go through as a purchase and qualify for any applicable 0% deal, or is it picked up as a cash-like transaction and treated like a cash withdrawal with different interest rates?
I have curve for where debit cards are accepted but wondered if Billhop also works as counting as a purchase.
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Comments
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Is it promote bill hop day today?
Even assuming that the transaction will be treated as a purchase, as already stated on the other thread, paying this fee to get money onto a 0% purchases credit card will cost more than any stoozing gains which could realistically be made on the money.0 -
Sorry, I missed anyone in another thread stating that Billhop transactions are treated as purchaeses. Surely it could depend on the card issuer as Billhop would certainly come into the "cash-like" category? I'm interested to hear from anyone that's used it being able to confirm it goes through as a purchase on a 0% card.
I didn't refer to stoozing in my question. Billhop's 2.95% fee rules that out.0 -
Paying a fee to pay bills!!! What's the point of having a 0% if you are going to then use a service that charges 2.95%, sounds crazy.
Pay bills with cash and use the 0% card for spending that you would use cash for. If its a case of not got cash to pay for bills and why wanting to use CC, then thats a red flag for debt advice and in addition most likely wouldn't be getting 0% deals.0 -
Paying a fee to pay bills!!! What's the point of having a 0% if you are going to then use a service that charges 2.95%, sounds crazy.
Pay bills with cash and use the 0% card for spending that you would use cash for. If its a case of not got cash to pay for bills and why wanting to use CC, then thats a red flag for debt advice and in addition most likely wouldn't be getting 0% deals.
It's not really that much different from a money transfer card IMO, which has its uses in some situations. It can still be useful for consolidating debt that cannot otherwise by consolidated with a balance transfer.
@OP - it will likely be down to the individual card company as to whether they treat it as cash or not. You could try a small transaction to see what happens?0 -
2.95% isn't too bad if you have a 18 month+ 0% card.
I'd try with a small amount, wait and then repeat with a larger amount. If they treat it as "cash-like" and hit you wish cash fees, I can't see there being any comeback even through the complaints process.
If they treated something like Lottery as cash-like (which most presumably do), potentially the customer could argue they weren't aware and look for a goodwill waive of fees. Something like Billhop you've got zero chance of getting any goodwill gesture unless the complaints handling person is half asleep!!0 -
I believe Billhop is treated as a purchase. They even take Amex who won't deal with "cash-like" businesses.
Billhop only allow payments to actual businesses and do not allow payments to personal accounts or finance companies etc.
It should be treated as a purchase, but 2.95% is hardly worth it unless you have, say, a bonus rate on your card you need to accomplish and paying your Council Tax (or similar) early will achieve that...
If you really need to borrow funds for your regular bills could you not get a 0% purchase card to avoid the fee? I'm hoping you have a mechanism of paying off said amount, otherwise if you are looking to spend more than you can chew, you should look at other options.0
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