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Credit card with no set spending limit 0%
GC2012
Posts: 24 Forumite
in Credit cards
Hi,
Sorry for the ignorance here but I dont know the first thing about credit cards. I have always paid for everything out right (apart from car loan & mortgage) so when I was applying for my mortgage a few years ago it was recommended I get a basic credit card and spend on it occasionally to build a credit rating.
I took out a Capital one platinum card which I have probably spent about £400 on in the last 3 years! I always clear the balance after a purchase (direct debit set up).
Anyway I am now looking to take a credit card out to purchase an engagement ring, it will be around £2500-3000 for the ring and I will pay it off within 6 months so I was hoping for a 0% card?
I am self employed and I will increase my dividends prior to purchasing this so pay it offer soon as possible (probably less than 6 months to be honest).
Is there a card which is suitable for this?
If not I could put £1000 down and then £1500-2000 on the credit card and pay that off even sooner.
The company I want to purchase from dont offer finance so credit card is the only option. If not I will save up and buy outright however it could be a push as I am also saving for a BTL property and have just paid for a holiday to Mexico where I am hoping to propose in just over two months time!
Thanks in advance for any tips and once again I apologise if this is a daft post, credit cards are not something I have even looked in to.
Sorry for the ignorance here but I dont know the first thing about credit cards. I have always paid for everything out right (apart from car loan & mortgage) so when I was applying for my mortgage a few years ago it was recommended I get a basic credit card and spend on it occasionally to build a credit rating.
I took out a Capital one platinum card which I have probably spent about £400 on in the last 3 years! I always clear the balance after a purchase (direct debit set up).
Anyway I am now looking to take a credit card out to purchase an engagement ring, it will be around £2500-3000 for the ring and I will pay it off within 6 months so I was hoping for a 0% card?
I am self employed and I will increase my dividends prior to purchasing this so pay it offer soon as possible (probably less than 6 months to be honest).
Is there a card which is suitable for this?
If not I could put £1000 down and then £1500-2000 on the credit card and pay that off even sooner.
The company I want to purchase from dont offer finance so credit card is the only option. If not I will save up and buy outright however it could be a push as I am also saving for a BTL property and have just paid for a holiday to Mexico where I am hoping to propose in just over two months time!
Thanks in advance for any tips and once again I apologise if this is a daft post, credit cards are not something I have even looked in to.
0
Comments
-
Hi,
Why not buy a ring for £300 ?
Bet she won't be able to tell the difference.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Sorry wrong category. Now posted in the Credit card section and this is reported so hopefully removed soon.0
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