Got a 0% Credit Card for 13 months, need to buy a car....

Saytan said:
indeed - but for anyone else considering this option it opens up private car sales too.
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Egg also do this (as I think someone mentioned earlier in the thread).

I recently transferred using a promotional rate to my bank account. They treat it as a regular balance transfer to 'clear an overdraft' or similar. Again, you'd still pay a balance transfer fee - check this is the same as normal too!

It's well worth checking the T&C of your cards, especially on promotional rates as said. Last thing you want is to lose a promotional rate on your card and end up paying far more interest than you should.
 
Is it a normal HSBC Mastercard? I have an Advance account, and is it basically a glorified transfer? You ring up and say you wish to move x amount from your CC to your current account?
 
[TW]Fox;18205524 said:
Facepalm. Seriously, just facepalm.
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Well,as I read the OP's post, he ment one of two things, he literally has run into a private car (as in an accident) or he comes across one for sale privately but he wants to pay by card.

Given that his thread is about buying cars, am I that off the mark? :confused:

If thats Facepalm fodder, fair enough. :rolleyes:
 
R420LA6X2/4MNA said:
Well,as I read the OP's post, he ment one of two things, he literally has run into a private car (as in an accident) or he comes across one for sale privately but he wants to pay by card.
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He said 'if I run into a private blah blah'. He obviously means if he can find one, so I decided to make a light hearted joke of it whilst also answering his question :rolleyes: :rolleyes: :rolleyes:

If thats Facepalm fodder, fair enough. :rolleyes:
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It sure is.
 
Well the application was applied for yesterday for the 0% card with tesco's, they are sending me the paperwork to sign, until its signed and sent back the account is a pending application (and the 0% 13 months will start when I sign and send back the form). I am delaying on the car buying until end of Feb as this months pay is primarily to clear my £2k overdraft then ill be free.
 
Now I know you have a Tesco card, I can be 100% factual and categoric with my answer regarding withdrawing cash from the card.

The Tesco card offers NO introductory rate on cash advance or money transfers. Instead you will pay 25% APR on cash advance and up to 22% APR on money transfer.

Therefore to avoid paying huge interest rates, your only option is to purchase the car on the card itself - but you'll probably incur a 2-3% transaction fee from the dealer.

So, I was correct and MikeHiow was, as ever, sticking his oar in to try and get his 'point' across even though he didn't really have a clue. I honestly thought he'd got bored of doing that, sadly not.
 
Just because you guessed right, does not make my point irrelevant.

Still, all I did was ask a question, then convey my thoughts regarding reasoning for removing introductory rates on advances.

You have just decided to blow it out of proportion.
 
[TW]Fox;18209403 said:
I didn't guess right - I knew the answer. You questioned it anyway, like you always do.
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Not really, several people have demonstrated credit cards where this is not quite the case, and you've only just found out which card the OP is using, therefore your statements were nothing more than guesses until that point.
 
MikeHiow said:
Not really, several people have demonstrated credit cards where this is not quite the case, and you've only just found out which card the OP is using, therefore your statements were nothing more than guesses until that point.
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Nobody demonstrated a case where a cash withdrawl is included in a promotional rate, only a bank transfer and such cards are rare enough that I was confident it wasnt the case for the op.

Let's consider the matter closed now he has an accurate answer.
 
I posted on facebook and someone replied

"Purchase premium bonds on the card, then cash the bonds in"

could this be a way around the issue to give me cash upfront?
 
I have an Egg card and bought £150 travelex euro cashcard, those preloaded cards that you can use in ATM worldwide and they classed that as cash and I got stung £5 interest, never use CC for cash unless you are Desperate and have the money to pay it off for next months statement.
 
Just found this on moneysavingexpert forums :)

Effective 13mo 0% SBT with upfront 1.25%fee with some faff, but actually faster than my previous SBT experiences

1. get yerself a Tesco 13month slow stooz card (not seen any limits over 10k)

2. order by phone from Tesco Finance - Amex Sterling travellers cheques to full limit, with confirmed purchase 1.25% fee. Over GBP500 these are delivered Special Delivery next day free, before 1300hrs

3. if you live near one of the bigger Tesco Extras you can also do it in person with a passport up to 8pm ( i did a mix of both phone and store). there are some further money laundering checks if you go too high, but I was OK with 1k instore

4. 10 minutes later deposit same TC in a suitable(receptive and fee-free) bank account. With FPS and/or my bank (lloydsTSB)these were treated as cash deposits and cleared same day ( Smiley

5. Importantly, and after pre-confirming this 4 times (!) the travel money is treated as a purchase not a cash advance. It shows as such on my online tesco account. Thus there is no cash advance fee and it remains within the 0% band.

nuff said

result = full balance in current account within 48hrs of receiving card and creditlimit. thats tasty if you can stomach a little hassle. And reading some of the adventures on here (Royal Mint coins springs to mind), some of you can!
 
[TW]Fox;18213111 said:
That is some loophole :eek:

Make sure you call them first and clarify things.
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What would be the best way to approach this, since the card is from tesco, I dont want to give them the idea I am using this as a loophole to get a cash advance, shall I just say

"I would like to purchase some travellers cheques for my holiday, will these be included as a purchase (0% offer)"?
 
Funny you've seen this as a good friend of mine who lives his entire life on MSE forums (kind of the Fox equivalent! ;) ) has done this and it works
 
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