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Credit card help

4 replies

lubz100 · 11/01/2020 18:04

Hi, does anyone know what credit card with 24ish months free interest you can get that you can transfer money to someone else bank account i.e we are buying a car from dealer and only take bacs ? I had a Sainsbury’s credit card with 29 month free interest but I can't transfer money online with it! Am I looking at a money transfer account? thanks

OP posts:
dementedpixie · 11/01/2020 18:30

I think i answered this already. BACs is just online payment. It's a money transfer card you are looking for

lubz100 · 11/01/2020 19:03

Thanks for relying I've been looking at this do they all have fee when you transfer money?

OP posts:
dementedpixie · 11/01/2020 19:10

Probably. If they're giving it interest free then they have to make money somewhere

nannynick · 11/01/2020 19:21

Money Saving Expert (and other sites I expect) have best buy tables for Money Transfer credit cards. They will typically have a fee of 3-4%. Look at places like Tesco Bank, Virgin Money. They will advertise that you can get up to 24 months maybe even longer BUT not everyone will qualify for that, so you may get offered less months.
Read terms carefully, you want a card that pays the money into your bank account. Then from there you can do a transfer to the car dealer. It is vital that the card is paid back within the interest free period, otherwise you may have been better off having a personal loan.

Personal loan may be 2-4% APR, so annual interest. However the amount available can be a lot higher, £7k-£15k often.

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