You're pretty much spot on...

But I've never found a card that doesn't charge around %3 to transfer the credit into cash.

I'm doing a similar thing but with buying my car on credit cards and paying it off over 3 years.

I didn't get as high a rating as you so it took 3 cards to buy my car...at an admin cost of £200 to transfer the credit. Also, because it's planned over three years I have to keep switching the balance to other 0% cards...at a transfer rate of about %3 every time.

Still..it's a miserly amount compared to your average loan rates, or even adding it on a mortgage.

I'l have the car paid off soon and intend to switch my mortgage through a 'One account'.

That way, I'll borrow about £3K a year on a 0% credit card and pay that off over the course of the year. However, that interest saving alone will knock 7 years off my mortgage.

yay
( Pooflake braces for an onslaught..., Tue 5 Aug 2008, 13:04, Reply)