Good medium term loan?
- Thread starter JP_
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money supermarket, money saving expert, have best loan tables, as do most broadsheet personal finance pages
The better option if you have a good credit rating is get a credit card which has 0% apr for 12-18 months as a introduction deal with a small fee for bank transfers like £40. Then transfer the money you need from credit card to your bank account and you have effectively got a loan for about £40 and as long as you pay it back in the term given you will pay no interest at all.
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cheers. 0% credit card sounds interesting, but I worry about these things!
On moneysavingexpert.com Admiral looks good - I could borrow £3000 over 24 months and pay back £3207 (£133/mo).
I'd say that was pretty reasonable. Should cover the fence and some carpets too...
On moneysavingexpert.com Admiral looks good - I could borrow £3000 over 24 months and pay back £3207 (£133/mo).
I'd say that was pretty reasonable. Should cover the fence and some carpets too...
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0% Credit Card is the best bet, Barclaycard do a two year deal, if you havent paid it off by then go for another credit card deal OK you would have to pay another transfer fee but it would work out less than a Loan Company deal.
Get a two year deal and you have saved nearly £200
I gather there is a technical term for people that transfer zero credit card loans when they expire , to different credit card companies I shall have to google it .
Get a two year deal and you have saved nearly £200
I gather there is a technical term for people that transfer zero credit card loans when they expire , to different credit card companies I shall have to google it .
Credit Card Tart - during the 90s/00s after buying a car, I must have had about a 1/2 dozen cards one after the other to transfer money slowly reducing the balance at little cost. Transfer charges were minimal in those days.
Must be careful though, ensure you set up a direct debit to automatically pay the minimum monthly payment otherwise they will hit you with significant charges.
Must be careful though, ensure you set up a direct debit to automatically pay the minimum monthly payment otherwise they will hit you with significant charges.
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That would go for a Loan Company Loan as well
Further to my previous - Do not use the card to make any purchases after you have transferred the money. You may be paying 0% interest on your £xxk which was transferred, but you will then be stung for interest on the additional purchases. All monthly payments will be used to pay off the interest free element before paying off the purchases.
0% credit card, and as said above - set up an automatic payment to pay each month, and don't use the card for anything else.
It'll cost you nothing in interest. the transfer fee is likely to be under 3% (£90). Look at moneysavingexpert.com to see how to choose which card to go for.
I would worry far less about a 0% credit card than I would about a loan. For example; sometimes you can't pay a loan off early without penalty, but you always can with a credit card. You can also vary your payments, as long as you keep them above the minimum
It'll cost you nothing in interest. the transfer fee is likely to be under 3% (£90). Look at moneysavingexpert.com to see how to choose which card to go for.
I would worry far less about a 0% credit card than I would about a loan. For example; sometimes you can't pay a loan off early without penalty, but you always can with a credit card. You can also vary your payments, as long as you keep them above the minimum
Bank of Mum and Dad? 0% interest and sometimes you don’t even have to pay the principal sum back either. That’s how it seems to work with our kids!
Is that you Dad?
Ian. Stop it. I’ve told you, you’re no longer welcome in this house.
S
SammyInnit
No wonder the country is riddled with debt. £2k loan over 18 months?
Stop spending, start saving.
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