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No Fit State
You mean the movie lied?

Registered: Nov 2003
Posts: 2596 - Threads: 51
Location: Monroeville Mall

Used a credit card to transfer a debit balance from your current account, when really you have no debit balance in your current account?

So effectively you get a low interest rate (balance transfer) cash sum paid into your current account and avoid the high interest rate that would of applied if you withdrew the cash straight out from your credit card.

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Old Post16-03-2007 15:00 PM
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ck
breaking the habits, slowly but surely...

Registered: Nov 2001
Posts: 87851 - Threads: 4871
Location: Filling a gap

No, I never thought of that. Scratches Chin

The nice thing about being senile is you can hide your own Easter eggs...

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Old Post16-03-2007 15:01 PM
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No Fit State
You mean the movie lied?

Registered: Nov 2003
Posts: 2596 - Threads: 51
Location: Monroeville Mall

I borrowed a few hundred off my mum while I was travelling and got my credit card to pay her back with the money into her account. So it's really not that different from that.

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Old Post16-03-2007 15:08 PM
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PonyBoy.
You can touch me if you like.

Registered: Mar 2006
Posts: 34240 - Threads: 1405
Location:

Quote:
OutLander wrote on 16-03-2007 03:00 PM

Used a credit card to transfer a debit balance from your current account, when really you have no debit balance in your current account?

So effectively you get a low interest rate (balance transfer) cash sum paid into your current account and avoid the high interest rate that would of applied if you withdrew the cash straight out from your credit card.



It's not a balance transfer if you pay it in to a current account, it would be a cash withdrawal on your credit card.

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Old Post16-03-2007 15:10 PM
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No Fit State
You mean the movie lied?

Registered: Nov 2003
Posts: 2596 - Threads: 51
Location: Monroeville Mall

Quote:
Uncle Tony wrote on 16-03-2007 03:10 PM

It's not a balance transfer if you pay it in to a current account, it would be a cash withdrawal on your credit card.



Slags! Their goes my cunning plan Mad

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Old Post16-03-2007 15:15 PM
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PonyBoy.
You can touch me if you like.

Registered: Mar 2006
Posts: 34240 - Threads: 1405
Location:

Quote:
OutLander wrote on 16-03-2007 03:15 PM

Slags! Their goes my cunning plan Mad



Laughs out loud

Hugs



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Old Post16-03-2007 15:15 PM
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No Fit State
You mean the movie lied?

Registered: Nov 2003
Posts: 2596 - Threads: 51
Location: Monroeville Mall

Quote:
Uncle Tony wrote on 16-03-2007 03:15 PM

Quote:
OutLander wrote on 16-03-2007 03:15 PM

Slags! Their goes my cunning plan Mad



Laughs out loud

Hugs





Looks like it worked back when I did this while travelling, but I'm a few years too late now http://www.thisismoney.co.uk/help-and-advice/ask-an-expert/loans/article.html?in_article_id=406048&in_page_id=110

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Old Post16-03-2007 15:22 PM
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