Advanced search

A stupid question about credit cards

(11 Posts)
NewPurrs5 Mon 24-Apr-17 16:52:24

I know this is probably a stupid question.

We've never had a credit card before but considering getting a 0% to bridge a gap for a very short while for a relatively small amount (2k) to pay the plumber. As we can't afford to wait any longer to replace the bathroom but only have half in cash. (It's literally falling apart)

I understand that withdrawing cash with a cc is a big no due to charges... but how do you use a credit card to pay a tradesman who would usually /presumably be paid in bank transfer?

wowfudge Mon 24-Apr-17 16:57:46

Could you get a bank loan instead? If you have a good history with your bank you can probably apply online or via an app and get an instant answer from them.

DancingLedge Mon 24-Apr-17 17:04:20

Or you use the credit card to pay for everything else - food, petrol, whatever and whenever you would have paid with cash or a debit card, so that sum of money is left in your bank ac to pay the plumber.

You need a certain amount of discipline to do this- it can feel like you're not spending 'real' money, so you spend more than you otherwise would have done. A budget and a written record?

Getting cash on a 0% card will probably mean its no longer0%.
Set up a standing order to always pay at least the minimum card payment on time.

blackjacker Mon 24-Apr-17 17:04:31

We did something like this, used the 0% card to buy the bathroom suite, materials etc and used the cash we had saved to pay the plumber. I think cash withdrawals are not 0% on the vast majority of credit cards so you'll end up paying interest if you do it that way.

DancingLedge Mon 24-Apr-17 17:07:45

If the plumber's supplying bathroom suite, you could ask him if he can put it on his trade ac, thus getting his/her discount, then can you go to his trade supplier, and pay that off on your credit card?
Talk to your plumber.

Ferrisday Mon 24-Apr-17 18:10:36

Cash withdrawals aren't usually 0%, but look for the ones that do balance transfer/bank transfer. There will be a transaction fee, but at least you will know the cost.

MissDuke Tue 25-Apr-17 10:34:51

We did this exactly as dancing describes. We paid for all other things with the CC to free up cash for the tradesmen then set up a standing order of £200 a month to pay off the CC. Worked really well, I would do it again!

LeBoob Tue 25-Apr-17 10:38:56

You need a specialist cash transfer card, such as mbna. Small transfer fee but often 0% for 12 months. Make sure it is a card specifically for cash transfers though!

malibuthru Tue 25-Apr-17 10:57:28

My Barclaycard does money transfers into my bank account. Could use it that way..

sherbetpips Tue 25-Apr-17 19:46:13

Yep Barclaycard do it

NewPurrs5 Wed 26-Apr-17 13:31:45

Sorry I totally forgot I started this thread and forgot to come back, thanks all!

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: