Not sure if anyone knows, but what are the charges if you borrow cash on your credit card? I think you get charged a day rate interest? Can anyone shed any light on this?
So what would this cost a month on a figure of £1900?
Not sure how the card interest works? Was thinking of transfering it onto a 0% card right away anyway
cash on credit cards is not a good idea tbh, and works out very expensive if left to run on the card charged against
godd idea would be to borrow it on your current card then transfer the balance before it acrues intrest
onto one of these http://uk.virginmoney.com/virgin/credit-cards-v3/?source=GOO-KW-25682-26059
your £1900 would cost you an additional £57 transfer fee, then you will have 16 months to pay off the balance, be carefull though that the card you take the £1900 advance on is not a MBNA, as you can not take this deal if transfering Mbna to mbna
What about using my overdraft to cover it? Its only short term
spiceboy wrote (see)
Ok cheersWhat about using my overdraft to cover it? Its only short term
depends what your overdraft charges are, mine are 50p per day so i would need to get the £1900 paid off in 114 days for it not to be worth going down the credit card route
credit card you get 16 months easy decision for me
And MBNA card transfers are not always accepted by other card issuers!
They usually have a mutual agreement with each other to prevent card hoppers doing this every other month.
They'll check out your recent borrowing on your credit file as well, so if you've been jumping around from card to card or have been late with even one payment somewhere else they'll use that to decline your application.
I'd go to your bank and sort the overdraft option instead; tell them it's for a bike neccessary to get to work etc.
And good luck with the 5EB R6 lol
Get onto the "BIG ISSUE" band wagon.
The Albanian bitch who sits outside M&S in Bicester seems to do ok?
This Saturday she had a Large cup of Costa Coffee and a £3.50 M&S Club sandwich!!
spiceboy. Not sure if I missed the boat.
Withdrawing cash with credit card is the worse & most expensive form of borrowing. Even if they advertise 0% interest for a period, this usually applies to balance transfer or purchases but not cash withdrawal. So read all the small prints V carefully otherwise you may end up with paying 12~18% APR interest!!
The best & cheapet way is to have a bank loan or AGREED overdraft.
Of course I don't know of you personal position but these are the general rules
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