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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!

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