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    Credit Card

    Hi All,

    Thinking of getting a credit card.
    I currently do not have one. But I need one where I can transfer the money to my current account and get 'x' number of months to pay it back.

    Can anyone recommend me a deal?

    Cheers

    17 Comments

    You can keep paying off your credit card indefinitely. Do you mean a period of time where there is 0% on balance transfers?

    Original Poster

    Yeah something like that.
    Basically i need to borrow some money without incurring interest on it cos I know i can pay it off monthly.

    try "moneysavingexpert credit club" it lists all 0% transfer cards and your chances of getting one without credit score hit.

    What you are talking about will be classed as a 'cash advance' and will likely incur quite hefty interest charges and upfront fees

    You wouldn't be able to achieve what you are trying to achieve in this manner.

    The deals only apply to "balance transfers" (a transfer of existing card debt) or "purchases" (actually buying something from a shop/online).

    Cash withdrawals or advances would be costly.

    Original Poster

    ah right okay.
    Thanks guys!

    I have an MBNA Visa card that allows transfer of cash @ 0% interest free but there is a handling fee of 4%. My interest free period is until Aug 19! I think I got this through either Clearscore or MSE credit club

    You could take cash out on your current card now then do a balance transfer to a 0% interest card.

    I'm unsure whether the most of the people replying above have misunderstood your question, or whether they are simply unaware of what products are available to lenders...

    Anyway, what you're looking for is a 'Money Transfer Card'. This will transfer a lump of cash into your bank and give you x months to pay it back interest free, although every one available at the moment does have a small fee that will be added to the balance.

    The best I can see appears to be from Virgin Money. This gives you 25 months to repay the balance interest fee, and the fee is only 2%.
    If you still haven't paid the balance in two years' time, you should consider a 0% balance transfer card, preferably with no fees.

    See here for more info: moneysavingexpert.com/loa…sts

    I wonder if a loan would be a safer option for you. It sounds like you're a novice in terms of managing money effectively and I would be concerned that the flexibility that a credit card allows will tempt you to get into financial difficulties. A loan will have the strict repayment amounts that your posts suggest you seem to need.

    This is the card I have - 29 months interest free but a 4% money transfer fee

    mbna.co.uk/com…nd/

    almas09

    Hi All,Thinking of getting a credit card.I currently do not have one. But … Hi All,Thinking of getting a credit card.I currently do not have one. But I need one where I can transfer the money to my current account and get 'x' number of months to pay it back.Can anyone recommend me a deal?Cheers


    Various options via VM but check the product meets your expectations uk.virginmoney.com/vir…ds/

    almas09

    \x09\x09\x09\x09\x09\x09Hi All,Thinking of getting a credit card.I … \x09\x09\x09\x09\x09\x09Hi All,Thinking of getting a credit card.I currently do not have one. But I need one where I can transfer the money to my current account and get 'x' number of months to pay it back.Can anyone recommend me a deal?Cheers\x09\x09\x09\x09\x09



    A credit card isn't for transferring money to a current account.

    Based on that alone I don't think you should be getting one...

    markluk

    I have an MBNA Visa card that allows transfer of cash @ 0% interest free … I have an MBNA Visa card that allows transfer of cash @ 0% interest free but there is a handling fee of 4%. My interest free period is until Aug 19! I think I got this through either Clearscore or MSE credit club



    ​this. MBNA offer money transfers on most of their products, some of which usually have a 0% offer.

    my tesco card also recently started to offer this.

    MBNA and Barclaycard I know for definite offer transfer balance from another card and transfer money to your current account. I think the transfer fee is around 4%. Tesco also do this I think.

    Gary_Dexter

    A credit card isn't for transferring money to a current account.Based on … A credit card isn't for transferring money to a current account.Based on that alone I don't think you should be getting one...



    The right type of credit card i.e. One that offers money transfers, are exactly for this!!!
    Based on this alone maybe you shouldn't be offering incorrect advice?

    buttonpushervic

    The right type of credit card i.e. One that offers money transfers, are … The right type of credit card i.e. One that offers money transfers, are exactly for this!!!Based on this alone maybe you shouldn't be offering incorrect advice?



    Maybe so, but that's no the purpose of a Credit Card
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