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  • FIRST POST
    • giboning
    • By giboning 8th May 19, 7:35 AM
    • 7Posts
    • 2Thanks
    giboning
    Free cash abroad for wedding
    • #1
    • 8th May 19, 7:35 AM
    Free cash abroad for wedding 8th May 19 at 7:35 AM
    Hello,

    I'm looking for advice on how to use Balance transfer, 0% interest for spending cards to pay for a wedding I'm planning for next year. My budget for the wedding is 20k.

    I have Halifax Clarity cc, Starling, Revolut and Curve cards I'm using while travelling and savings to cover most of the costs of the wedding, but I'd rather use fee free cards.

    One thing is that most of the suppliers asked me to pay them cash. I will have to pay around 15% upfront to them and pay the balance one week after the wedding.

    I have a Virgin Atlantic cc which I use to gain airline points with 5.5k limit. I'm using it to top-up Revolut and Starling whenever I travel and works fine. I was thinking of doing a 5k top-up on Starling, get a BT card and cover the Virgin cc balance. Meanwhile, get a 0% card and top-up the Starling/Revolut using Curve.

    I only have 2k limit on the Clarity, so I could withdraw all the cash at the ATM while abroad, pay the balance with a debit card, repeat this several times.

    My partner doesn't have any credit cards on her name, so she will apply for the same BT and 0% cards as I do.

    We got a joint mortage 6 months ago, I used to churn Amex until then, but nothing since, so hopefully my credit score got back up to get a higher available balance from the credit cards.

    Thanks for your time reading and looking forward to your opinions.
Page 1
    • venison
    • By venison 8th May 19, 11:54 AM
    • 3,374 Posts
    • 4,491 Thanks
    venison
    • #2
    • 8th May 19, 11:54 AM
    • #2
    • 8th May 19, 11:54 AM
    1) no one has a credit score its a fictional number
    2) the money saving option would to not spend 20k on a wedding, especially if you need t borrow
    If you are not part of the solution then you must be part of the problem.
    • Candyapple
    • By Candyapple 8th May 19, 12:06 PM
    • 3,197 Posts
    • 2,683 Thanks
    Candyapple
    • #3
    • 8th May 19, 12:06 PM
    • #3
    • 8th May 19, 12:06 PM
    Is this to pay for a wedding in the UK or a wedding overseas where the suppliers will need paying in their currency?
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • Voyager2002
    • By Voyager2002 8th May 19, 12:43 PM
    • 13,098 Posts
    • 9,003 Thanks
    Voyager2002
    • #4
    • 8th May 19, 12:43 PM
    • #4
    • 8th May 19, 12:43 PM
    Avoid suppliers who insist on getting paid in cash.
    • Nasqueron
    • By Nasqueron 8th May 19, 1:43 PM
    • 7,603 Posts
    • 4,826 Thanks
    Nasqueron
    • #5
    • 8th May 19, 1:43 PM
    • #5
    • 8th May 19, 1:43 PM
    6 month old mortgage, running up cards travelling and spending all your savings on the wedding?


    Sounds like you need to lop one of the 0 off the wedding cost and be more sensible than starting married life in hoc to the credit card firms
    • Gary_Dexter
    • By Gary_Dexter 8th May 19, 2:02 PM
    • 4,787 Posts
    • 3,125 Thanks
    Gary_Dexter
    • #6
    • 8th May 19, 2:02 PM
    • #6
    • 8th May 19, 2:02 PM
    How are you topping up the Starling account (which is a current account) with money from a Credit Card?

    Do you have a money transfer offer on the Virgin Card?

    Surely you'll be racking up fees and cash interest?
    • Socajam
    • By Socajam 8th May 19, 2:31 PM
    • 359 Posts
    • 463 Thanks
    Socajam
    • #7
    • 8th May 19, 2:31 PM
    • #7
    • 8th May 19, 2:31 PM
    I would never pay for anything in cash unless it's groceries.
    As someone mentioned, you just bought a house and using this amount of money for wedding.
    • dealer wins
    • By dealer wins 8th May 19, 3:38 PM
    • 6,437 Posts
    • 12,922 Thanks
    dealer wins
    • #8
    • 8th May 19, 3:38 PM
    • #8
    • 8th May 19, 3:38 PM
    Food for thought OP..

    https://www.dailymail.co.uk/femail/article-7002387/Tracey-Cox-reveals-14-wedding-red-flags-suggest-marriage-fail.html
    Choose life
    • giboning
    • By giboning 8th May 19, 8:06 PM
    • 7 Posts
    • 2 Thanks
    giboning
    • #9
    • 8th May 19, 8:06 PM
    • #9
    • 8th May 19, 8:06 PM
    Is this to pay for a wedding in the UK or a wedding overseas where the suppliers will need paying in their currency?
    Originally posted by Candyapple
    The wedding is overseas where the suppliers will be paid in the local currency.

    Avoid suppliers who insist on getting paid in cash.
    Originally posted by Voyager2002
    There will be a contract signed for their services. They don't specifically ask for cash, they accept bank transfers as well, but transfers from UK to another bank involves fees and takes couple of days.

    How are you topping up the Starling account (which is a current account) with money from a Credit Card?

    Do you have a money transfer offer on the Virgin Card?

    Surely you'll be racking up fees and cash interest?
    Originally posted by Gary_Dexter
    I always top up my Starling card using the app. Bank transfer takes more time to see the money in my account.

    Thank you for your thoughts. I'm a money saver, so I wouldn't spend all my savings on a wedding. I am only interested in getting a credit card only if there's a way of using them fee free, as I prefer to have more cash in my savings account.
    • Ben8282
    • By Ben8282 8th May 19, 8:36 PM
    • 3,123 Posts
    • 1,704 Thanks
    Ben8282
    My partner doesn't have any credit cards on her name, so she will apply for the same BT and 0% cards as I do.
    .
    Originally posted by giboning
    Which she is very unlikely to get having no credit cards in her name.
    How are you topping up the Starling account (which is a current account) with money from a Credit Card?

    Do you have a money transfer offer on the Virgin Card?

    Surely you'll be racking up fees and cash interest?
    Originally posted by Gary_Dexter
    I agree with the above. You cannot use a credit card to 'top up' a current account except by money transfers for which virgin charge a fee and which certainly cannot be done using the Starling app.
    I always top up my Starling card using the app. Bank transfer takes more time to see the money in my account. .
    Originally posted by giboning
    From your OP it appears that you currently have 2 credit cards with limits of 5.5K and 2K respectively.
    The current balances (if any) of these cards is unknown. You also have a 6 month old mortgage. However, you talk about obtaining 0% cards with (presumably) large enough credit limits to balance transfer everything from the 2 existing cards to. Do you really think you will get them?
    Your ideas also carry risks. You intend to withdraw the whole 20K using a Halifax Clarity card with a 2K limit which you intend to repay over and over again to facilitate this. Leaving aside the length of time necessary to carry out this plan due to the daily cash withdrawal limit, I have a strong suspicion that this type of account conduct could see your Halifax Clarity card blocked.
    Last edited by Ben8282; 08-05-2019 at 8:51 PM.
    • giboning
    • By giboning 9th May 19, 10:10 AM
    • 7 Posts
    • 2 Thanks
    giboning
    I agree with the above. You cannot use a credit card to 'top up' a current account except by money transfers for which virgin charge a fee and which certainly cannot be done using the Starling app.
    From your OP it appears that you currently have 2 credit cards with limits of 5.5K and 2K respectively.
    The current balances (if any) of these cards is unknown. You also have a 6 month old mortgage. However, you talk about obtaining 0% cards with (presumably) large enough credit limits to balance transfer everything from the 2 existing cards to. Do you really think you will get them?
    Your ideas also carry risks. You intend to withdraw the whole 20K using a Halifax Clarity card with a 2K limit which you intend to repay over and over again to facilitate this. Leaving aside the length of time necessary to carry out this plan due to the daily cash withdrawal limit, I have a strong suspicion that this type of account conduct could see your Halifax Clarity card blocked.
    Originally posted by Ben8282
    I "top-up" my Revolut/Starling card from Virgin card underling the Curve card with no fees as Virgin sees it as a purchase. That's where my idea of using a 0% purchase card for a top up and a BT card to cover the Virgin card for another top-up.
    It doesn't have to be all the amount, i'm just looking to put as much possible to repay in the next 18-24 months.
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