Is this feasible, credit card question

naughtysmurf

I have one credit card with a limit of 3k, the balance at the moment is approx €1700 so €1300 is available to use but I don't wish to as the APR is the usual 18/19% or thereabouts

I wish to purchase flights that cost about 2k (which is a very good price), I will be in a position to pay the 2k off in full in 6 months in one go

My question is if I applied for and got a second credit card with a 0% APR introductory rate for 6months with a credit limit of 2k, used it to purchase the flights, would I still only owe 2k in 6 months time when I go to clear it? I would not use it for any other purchases or make any repayments on it for 6 months so basically a 2k loan, interest free over 6 months

If the answer is yes, my second question is who offers this type of card if they are available?

Thanks

StillWaters

I think those 0% cards only apply to balance transfers, new purchases are subject to prevailing interest rates, so you could transfer the 1700 over, have that interest free and pay for the flights with the existing card. And you would still have to make minimum repayments on the 0% card monthly.

Those cards are not for the undisciplined though. I'm not sure who, if anyone is offering 0% interest in the Irish Market currently.

Islander13

naughtysmurf wrote: »

I have one credit card with a limit of 3k, the balance at the moment is approx €1700 so €1300 is available to use but I don't wish to as the APR is the usual 18/19% or thereabouts

I wish to purchase flights that cost about 2k (which is a very good price), I will be in a position to pay the 2k off in full in 6 months in one go

My question is if I applied for and got a second credit card with a 0% APR introductory rate for 6months with a credit limit of 2k, used it to purchase the flights, would I still only owe 2k in 6 months time when I go to clear it? I would not use it for any other purchases or make any repayments on it for 6 months so basically a 2k loan, interest free over 6 months

If the answer is yes, my second question is who offers this type of card if they are available?

Thanks

Answer is yes, no idea about providers though I know introductory rates can apply to balance transfers too which might be of benefit to you

naughtysmurf

Would there be a minimum monthly repayment on the 2k or am I delusional

StillWaters

naughtysmurf wrote: »

Would there be a minimum monthly repayment on the 2k or am I delusional

Yes, min repayments apply.

Xavi6

There will always be a minimum monthly repayment, most likely 2% of the balance owed.