Soldato
The sweet spot is work expenses
Not got any of those sadly lol!
If you churn a lot of cash this strategy is definitely one worth considering though for sure.
The sweet spot is work expenses
I am definitely looking to bolster my CC debt. It is only about ~£6k at the moment. I've also pushed my mortgage to 35 years (both the 4.9% half and the 2.3% half) so topping up Zopa with the cashflow benefit. Come September half 2 will hit 4.9% though .
I'm sure you've already thought of this, but just in case - some providers have an overpayment cap of 10% annually before charges apply.This would give me the fear
I'm hoping to be in a position to start overpaying my mortgage from the start of 2025 by monthly payment + 30%
Interest on £35K at 5% is £1750 per year. Balance transfer fee onto another interest free card is usually maybe 1%? £350. No brainer in terms of gaining free cash.
Thats how those sharks operate, they suck financially illiterate people into debt traps, before they know it they have sizeable debt at 50% interest or BNPLs rolling over. Sure we could argue the people taking the debt on should know better but usually they dont, shouldn't be allowed.It is the rogue ones that are annoying. Like I opened a Very account for an offer on the Sonos sub (20% off) and now that gives me £5k (wtf? this little experiment has seen me just reduce that to £1k), PayPal for a television is £3.85k (wtf?) and a Frasers account I was arm-twisted into opening for 20% off some shorts is giving me £1250 (for what was a £50 pair of shorts, lol).
The thing most surprising about the Frasers thing, is typically I would never be sucked into those kind of store card one-off offers - but it was like 40% off list price (a genuine £90 pair of shorts for £50). It would have been "silly" to ignore, but now I have a very easy line of credit to spend at their group and it seems impossible to clear early and close the account easily. I can see how people would easily get sucked in for future purchases now. .Thats how those sharks operate, they suck financially illiterate people into debt traps, before they know it they have sizeable debt at 50% interest or BNPLs rolling over. Sure we could argue the people taking the debt on should know better but usually they dont, shouldn't be allowed.
The thing most surprising about the Frasers thing, is typically I would never be sucked into those kind of store card one-off offers - but it was like 40% off list price (a genuine £90 pair of shorts for £50). It would have been "silly" to ignore, but now I have a very easy line of credit to spend at their group and it seems impossible to clear early and close the account easily. I can see how people would easily get sucked in for future purchases now. .
Price is the point at which your desire to have them is greater than the desire to retain the money. For me, £50 is the line. If you think anything in the world is "cost plus" then you are misunderstanding the world.You are sucked into believing a £50 pair of shorts is £90 when its made by some 12 year old for $1 anyway.
I've never considered using my CC in such a heavy handed way. Currently I use it for everyday stuff then pay it off each month incluring no extra cost and collecting points.
Say my AMEX limit is 20k, how would I access that interest free? My cash position is more than enough to cover it so it could be beneficial in the future for larger purchases.
You can't - the trick is you sign up to a 0% card -> fill it -> divide balance by interest fee period -> store cash so you are always cleaning your nose. When the 0% period is due, perform a BT to somewhere else. Keep cash saved in ISA/whatever.I've never considered using my CC in such a heavy handed way. Currently I use it for everyday stuff then pay it off each month incluring no extra cost and collecting points.
Say my AMEX limit is 20k, how would I access that interest free? My cash position is more than enough to cover it so it could be beneficial in the future for larger purchases.
We will need pics of you wearing these shorts now, just to give our opinions on value of course.Price is the point at which your desire to have them is greater than the desire to retain the money. For me, £50 is the line. If you think anything in the world is "cost plus" then you are misunderstanding the world.
I'm not falling for that BS. If you want pics, my OF is linked from Home & Garden.We will need pics of you wearing these shorts now, just to give our opinions on value of course.
It is the rogue ones that are annoying. Like I opened a Very account for an offer on the Sonos sub (20% off) and now that gives me £5k (wtf? this little experiment has seen me just reduce that to £1k), PayPal for a television is £3.85k (wtf?) and a Frasers account I was arm-twisted into opening for 20% off some shorts is giving me £1250 (for what was a £50 pair of shorts, lol).
Thanks^ Makes me wonder why anyone would get a basic loan, other than to borrow even more on top.