Quick question to finance purchase

Quick question to finance purchase

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AndyT77

Original Poster:

1,755 posts

161 months

Wednesday 17th September 2014
quotequote all
At the moment i am looking to make a purchase of around £4000.

I have a balance transfer deal of 0% until March 2015 (1.9% fee), with my credit card.

I have (pre) approval for a personal unsecured loan of upto £9000 with my bank, rate unkown.

Would i be daft to use the balance transfer for the £4000, then when the promotional interest rate runs out, take out a loan to pay off the balance, or would it be best to take out a personal loan for the amount required straight off the bat?

My only reason for asking is, if i take the BT, then it may affect my acceptance for a loan to pay it off later.

Patch1875

4,893 posts

131 months

Wednesday 17th September 2014
quotequote all
Does the rate apply to purchases as well as a balance transfer?

AndyT77

Original Poster:

1,755 posts

161 months

Wednesday 17th September 2014
quotequote all
Patch1875 said:
Does the rate apply to purchases as well as a balance transfer?
No, I'm afraid not.