Best 0% Credit card out at the mo

DJMK4 · 29 Sep 2009 at 12:20

I need to purchase car insurance and it works out a lot cheaper if I do the deed with a 0% credit card, I currently have an egg card with £400 which is maxed out.

Ill probably need around £500 to cover my insurance cost. Tesco credit card currently have a 0% on purchases for 12 months at the mo which looks to be the best offer.

Any others in the pipeline?

Need a quick reply as I need to apply ASAP

The Mad Rapper · 29 Sep 2009 at 12:22

Don't insurance companies let you split the cost monthly by direct debit?

It may be a better option.

platypus · 29 Sep 2009 at 12:23

Abbey/Santander are offering a European wide 0% credit card, might be worth looking into.

Basher · 29 Sep 2009 at 12:23

The Mad Rapper said:
Don't insurance companies let you split the cost monthly by direct debit?

It may be a better option.

Unlikely to be a better option. This option from the insurance company usually comes with a charge for the credit.

knip · 29 Sep 2009 at 12:23

Some insurance companies will let you pay it off monthly with no interest charges.

OpenToSuggestions · 29 Sep 2009 at 12:25

knip said:
Some insurance companies will let you pay it off monthly with no interest charges.

The insurance for the year will be more expensive in the first place.

Insurance companies don't really do anything extra for free

DJMK4 · 29 Sep 2009 at 12:33

0% credit card is the way forward for things like these, iv done the research. Works out a lot cheaper. Im just looking at the tesco credit card, 0 % on purchases for 12 months.

NerveAgent · 29 Sep 2009 at 12:38

mglover070588 said:
The insurance for the year will be more expensive in the first place.

Insurance companies don't really do anything extra for free

Not necessarily.Virgin do interest free monthly insurance and have also given me the lowest quote for the past 3 years or so.

jonislost · 29 Sep 2009 at 13:02

DJMK4 said:
0% credit card is the way forward for things like these, iv done the research. Works out a lot cheaper. Im just looking at the tesco credit card, 0 % on purchases for 12 months.

Tesco one is great. I got one in the summer 0% for 12 months from purchase for the first 12 months. It makes so much more sense if your other option is taking out some kind of finance deal (providing you get the limit you require anyway)

Unlight · 29 Sep 2009 at 13:24

Yeah, Tesco has the best offer on at the moment for interest free purchases.

DJMK4 · 29 Sep 2009 at 13:32

Tesco's it is then

DJMK4 · 29 Sep 2009 at 14:46

Hmmm, tried a few 0% credit cards, and with the online applications they dont seem to be offering me a card

it says the decision was made based on the scoring on my application on the website (not credit rating).

I dont get it, im living with parents, im 25, income is £18k per annum, i also have another 2k or so income per annum yet it still refusing me, been in job over 1.5 years, lived at my home address for over 8 years.

Nick1881 · 29 Sep 2009 at 14:48

Money saving expert website will give you some idea's

platypus · 29 Sep 2009 at 14:48

Be careful about applying to a few. Every time you apply and get rejected it goes on your credit report.

DJMK4 · 29 Sep 2009 at 14:49

platypus said:
Be careful about applying to a few. Every time you apply and get rejected it goes on your credit report.

How am i supposed to find one that will accept me if i cant apply for a few :confused:

Seems like bit of a dull idea to me.

jamief · 29 Sep 2009 at 14:50

platypus said:
Be careful about applying to a few. Every time you apply and get rejected it goes on your credit report.

No it doesn't.

If the particular lender you apply to does a credit search, the actual search will be recorded on your Experian file. Whether they approve you or not isn't recorded.

antijoke · 29 Sep 2009 at 14:51

DJMK4 said:
Hmmm, tried a few 0% credit cards, and with the online applications they dont seem to be offering me a card it says the decision was made based on the scoring on my application on the website (not credit rating).

I dont get it, im living with parents, im 25, income is £18k per annum, i also have another 2k or so income per annum yet it still refusing me, been in job over 1.5 years, lived at my home address for over 8 years.

Yes but how much else do you have on credit?

jamief said:
No it doesn't.

If the particular lender you apply to does a credit search, the actual search will be recorded on your Experian file. Whether they approve you or not isn't recorded.

The point still stands though, many applications and entries on your credit file in a short space of time isn't a good thing.

DJMK4 · 29 Sep 2009 at 14:52

anticonscience said:
Yes but how much else do you have on credit?

£500 on egg card, about £20 on a store card.

Does bank overdraft count as valid credit when applying for credit cards?

platinum87 · 29 Sep 2009 at 14:52

double check two things

1) make sure the company you pay with the credit card doesnt charge you extra for it

2) make sure the credit card treats the transaction like a normal "purchase", and not as a cash payment (which charges you like 2-4% surplus and puts it on highest interest which is excluded from any 0% offers) so for example depositing £1000 into a poker room on a new card with 16months 0% would charge as £1030 or so and be charged at the usual rate per month (regardless if you pay it off at the end of the month)

Beansprout · 29 Sep 2009 at 14:52

Ring up Egg and ask them to up your limit?