Anyone use the Marks and Spencers one? What's their credit limit? Xx
The Best Interest Free Credit Card
(45 posts) (12 voices)-
Posted 1 year ago #
-
Im using the MBNA rate for life credit card, as il be paying my boobies off for around 4 years.. and there apr is 5.9% which is a really good rate compared to most x
Posted 1 year ago # -
Morning Lola, is that card an interest free card? And then 5.9% after the interest free period? xx
Posted 1 year ago # -
Hey Gabbybee, Im 21 also and i dont think my credits that bad, I checked it infact and its Fair, i work 40+ hours a week and i got refused credit cards and loans! If all else fails i applied for an overdraft with my bank and they gave me one for £2700! Thats practically paid for my boobies!
Posted 1 year ago # -
Ok, I think I'm gonna go to my bank later on today and see what they say. Is it an interest free overdraft? What bank are you with? Xx
Posted 1 year ago # -
Im with natwest, I pay an interest of £159 every 3 months if im in my full overdraft which ive been told is good! its about the same interest like ud get on a credit card! x
Posted 1 year ago # -
hi girlies im being thisck, i want to do the same and have a 1500 deposit for a ba but want to put the rest on a card as cant get finance through mya untill iv been in full time work for 3 month but i can only get a ba in october/november because of my horses etc and dont want to wait a year as i am loosing the weiht now ready. does the interest free 13 month start from when you get the card or when you first use it as i need to get a job and dont want to get a card now and then not use it because i havnt got a job to pay of the balance and therefore wont have the op untill nxt year. eek. i dont no what to do i was hoping to try n get a last min spot as i no most ppl are booked untill nxt year anyway but il chicken out if i do that and also just dont no much about credit cards and what the t and c of them etc.
Posted 8 months ago # -
Hi the interest free starts from when you get the card. Be sure to set up a direct debit though because if you miss a payment and you have a 0% promotional offer on purchases the outstanding amount will be reverted to the standard interest rate. So say you take out a card which has 0% on purchases for 12 months, that means if you put £3500 on it and didn't miss a payment all you'd pay back would be the 3500. Say after the 12 months interest free period is up you have paid it off in full, if the standard interest rate is 17.9 then you would pay this additional amount on whatever is left over, however, if you miss a payment or go over the credit limit before the 0% runs out, you'll end up having to pay interest.
Be sure to check each companies minimum payment, barclaycard is 2.25%, whereas Halifax is 1%. it looks better on your credit file if you pay more than the minimum payment each month. Also, you want to check if when you set up a direct debit if manual payments affect the amount that's collected, I.e. If you pay 100 to barclaycard and your minimum payment is only 50 then nothing would be collected by direct debit unless it's a fixed amount. Halifax however always collect the direct debit regardless of how much has been paid.
In relation to the standard apr, the lower the better... This is just in case you don't manage to repay the whole amount before the promotional rate expires. You do however have the option of obtaining a new credit card at the end of the promotional rate and doing a balance transfer... This is where the outstanding amount from your existing card is transferred to another card at a new promotional rate, however you do have to pay a handling fee, usually less than 3%.
Hope this helps, any questions just message me!
Kelbel x x
Posted 8 months ago # -
Also, don't make too many applications in a short period of time as this hurts your credit file, it looks like you're getting desperate for credit which in the eyes of the lender is a bad thing x
Posted 8 months ago # -
Great help Kelbel!!
x
Posted 8 months ago # -
Hi I just applied for and got £2k at barclays for 24months interest free on balance transfers, so using my hubbys overdraft for the balance and then putting it on the barclays credit card, 24months is amazing for interest free
Some may be given more or less limit to me depending on circumstances, if it doesnt cover your whole operation then at least that amount is interest free (hope that makes sense ) xxx
Posted 8 months ago # -
wow brill advice girlies thanx learnt more here that during by business year at uni and a level lol!! ok so best plan is get job ... not through lack of trying, then see avaliability of surgeon as if i miss my gap i cnt have it done untill nxt oct nov as it has to fit into my competing, then once iv seen the gap then apply or shall i apply and then if i get given a card but cant have the op just keep the card and dont use it then apply for a nother nearer the time if i havnt saved up enough by hen which is unlikely. what the best order to do it all in lol not seeing surgeon untill the 13th.
Posted 8 months ago # -
oh and anyone got advice on the best ppl to go to to just brows my options is there a website?
Posted 8 months ago # -
ok iv looked it saying stuff like 0% for 22 month with a 3.9%fee what does this mean
Posted 8 months ago # -
ok being thick that was blance transfer
Posted 8 months ago #
Reply
You must log in to post.