Credit Card for Spending Discussion Area

[MSE Wendy]

This thread is specifically to discuss the

0% Credit Cards for Spending

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[dclparker]

I have still been able to access the Halifax Purchasecard application page, having applied for this last week, which gives:
15mths interest free on purchases and 6mths on balance transfers.

Try the link www.halifax.co.uk/purchasecard

[moredosh]

Brilliant post, dclparker.
Accessed, applied, accepted.

And there I was trying to choose between HSBC and the standard Halifax, both of which give 12 months int free on purchases. (Not seeking balance transfer deals on this occasion.)

[JustJewels]

I was dismayed to see that I was already an existing cardholder for both the best purchase cards - Halifax and HSBC! The purchase cards are for "new customers only".

Halifax customer services advised that while you can't have 2 separate credit cards with them, if I close down my existing Halifax One card and reapply after 30 days, they would consider me for the Halifax purchase card. Yipee, I did so willingly. I took the risk that I may not be approved for my new application, as really my existing card with its paltry �500 limit would be no great loss. Much to my great surprise (as many past interactions I have had with Halifax have been both frustrating and fruitless), I got reapplied and got approved for their purchase card with a �1500 limit. Not a huge limit but better than nothing.

HSBC, on the other hand, advise that I can also shut down my existing card, but can only reapply after SIX MONTHS! As there is no guarantee that you will be approved when you reapply, I'm not gonna risk it, because I use the HSBC card as my main card.

But the point is, even if you are an existing card holder, you may still be able to qualify for the interest free cards if you are prepared to cancel your existing cards in order to reapply.

[clittle25]

Hi, i have just been accepted an application for the hsbc credit card with 0% interest on purchases for 12 months.

Im getting married in 7 weeks and want to buy a tomtom and wii for my partner.

Am i right in thinking that i can buy the items and if i pay, say, �25 per month and make sure the balance is clear by the end of the 12 months - i wont have to pay any interest?

I got stung by the balance transfer thing a while ago and just want to make sure im correct in my thinking.

any help would be much appreciated

chris

[leahr1]

Hi,

I'm a bit confused about what type of credit card I need, as so many are offering deals for balance transfers from other credit cards.
I don't have a credit card but am looking for one for the short term (at 0%) for purchases. I am only needing this for about 3 months or so because I am moving and needing to pay for two flats over the period of a few months. Once the money comes through from the flat I am selling though, I can pay this off.

Please help!

Thanks,

Leah

[Lapadore16]

MBNA 4.9% no fee
I thought this was too good to be true. So I applied and got accepted. But the interest rate is 5.9% and a 2% transfer fee. Before I go ahead with this, is this still a good idea? I need to cover about �4,000 and they have given me a �7,000 credit limit. I understand about not ever spending on a balance transfer card. But I just can't see the wood from the trees right now. :confused:
Anybody help?
Thanks.

[craigpaul85]

Hi all
I've currently a �1750 overdraft with HSBC from my student days. And i am about to start getting charged interest from the bank a/c. I am not a graduate, so cannot get the graduate account.
I'm thinking of getting a credit card and paying off the overdraft (or most of it) and then paying the credit card amount back bit by bit every month. Does this mean i need a 0% for purchases for a number of months like the Halifax (Above). After that period i will shift it to a 0% balance transfer
What you all think??
Am i on the right track? I need some expert advice.........Martin anyone??

[dhassen]

Originally Posted by craigpaul85

Hi all
I've currently a £1750 overdraft with HSBC from my student days. And i am about to start getting charged interest from the bank a/c. I am not a graduate, so cannot get the graduate account.
I'm thinking of getting a credit card and paying off the overdraft (or most of it) and then paying the credit card amount back bit by bit every month. Does this mean i need a 0% for purchases for a number of months like the Halifax (Above). After that period i will shift it to a 0% balance transfer
What you all think??
Am i on the right track? I need some expert advice.........Martin anyone??

I've already replyed to this on your main thread craigpaul...... go read it BTW your problem has nothing to do with a credit card for spending.

[gunswick]

ignore this post.

[KJF1]

I've just had a look at the Barclaycard 0%, but it redirects now to a normal barclaycard platinum at 14.9%

The end of easy credit ?

[ramellous1]

Just got accosted in Tesco to sign up to their clubcard creditcard. 12 months 0% on purchases with 500 points thrown in. On their website they are only offering 6 months 0% but this was a flyer instore.

[Any]

Yes, but isn't it 12 mths only for goods purchased in Tesco supermarket or Tesco Direct? Just make sure you read the T&C properly. Unless they just came up with brand new deal... Last week's applications were only for Tesco's shopping 0% for 12 mths...

[sandy98uk]

Hi all

This may be a stupid question but am I right in thinking if I want to borrow about �2000 over 24 months i would be better off getting a credit card with a long term low interest rate (i.e. Barclaycard Simplicity at 6.9%) is better than getting a �2000 loan at a 7.9% APR?

As I say, it seems obvious to me that the card would be the better option but I'm wondering if I'm missing something?!

Thanks

[StephanierBaker]

OK, so I'm new to this!! I've never had a credit card before and am not entirely sure I understand it all.....

I have just got a new job, which I am due to start in January, but obviously that doesn't help with Christmas.

If I were to get a credit card to pay for Christmas, can I hold off paying my first credit card bill until February when I get my first pay cheque????

PLEASE can someone help?? I just don't know how else I'm going to be able to afford xmas!!!

Many thanks,

Stephanie

[poker_face]

Originally Posted by StephanierBaker

OK, so I'm new to this!! I've never had a credit card before and am not entirely sure I understand it all.....

I have just got a new job, which I am due to start in January, but obviously that doesn't help with Christmas.

If I were to get a credit card to pay for Christmas, can I hold off paying my first credit card bill until February when I get my first pay cheque????

PLEASE can someone help?? I just don't know how else I'm going to be able to afford xmas!!!

Many thanks,

Stephanie

You will need to pay off a minimum amount per month, you can do this by direct debit.

[Dave Rowtree]

Originally Posted by sandy98uk

Hi all

This may be a stupid question but am I right in thinking if I want to borrow about �2000 over 24 months i would be better off getting a credit card with a long term low interest rate (i.e. Barclaycard Simplicity at 6.9%) is better than getting a �2000 loan at a 7.9% APR?

As I say, it seems obvious to me that the card would be the better option but I'm wondering if I'm missing something?!

Thanks

In theory yes you would be better off, I think rule of thumb if you can get it on a low rate credit card you're better off sticking with that than a loan, since you can also pay it off early if you get some extra cash which with a loan you may have to pay a penalty for. It depends on your income how low a rate on the credit car you can get, try something like http://www.confused.com/credit-cards or moneysupermarket to see what you can get. A remember Martin's golden rule! Don't go taking cash out or anything like that on the card after you purchase something, just put it in a drawer, set up the standing order or direct debit and forget about it. Its the discipline of not spending more on it thats the problem with credit cards

[JenniferAfonso]

Hello

I had applied online for a 0% balance transfer from 2 of my old cards to a new credit card. I had a response saying that they would get back to me in 6 days or so. Meanwhile, I applied for another balance transfer for the same old card and also paid off some amount. I did this for two old cards. Now I dont know whether the first card has accepted the balance transfer. If it has, then I have also transferred some of the same balance on another card as well as paid off some amount. This is for both my old cards. Can I cancel one of the balance tranfers? I will now owe the new card as well as have paid off some of the balance and also transferred some more into another card as well. What do I do? Help!

[TomJ]

Probably worth mentioning that you can get 12 months at 0% on a Halifax credit card if you either already have a current acct with them or open one. However, the offer is listed as ending on 1 Mar, so you've got just over a week left to apply...

http://www.halifax.co.uk/bankaccounts/Extras.asp

[misti]

Hi all @ mse,

I am currently trying to sort out my finances any advice would be great.

I'm on a ridiculously low income (cliched self-employed struggling artist), I have 1 credit card at limit (rbs, limit �650, apr 13.9%, current min repayment approx �12 2.25%).

I would also like to purchase an apple for work about �1000.

My credit rating prob isn't that good, but i'm not an irresponsible spender (just circumstance), I have only purchased what I needed on current card & made the min repayments each month. But am dyslexic/disorganised.

What I got confused about was to not spend on the balance transfer cards, so then I couldn't work out what to do for best. Should I move my �650 to a 0% do you have to pay that back within 1 year??? Or a 3% as I don't want my repayments to be more than �20 a month total. So can wait & save some so borrow less to keep payments down...

Obv can't trust the credit card co's to me correct advice, any received greatly appreciated. Or if there is another place I should be asking? Thanks : )