Paying by credit card

[Vespid]

I want to employ a builder for some home improvements.

The bill will be £4000

I have a credit card with zero balance and a limit higher than that.

How can I use this resource to pay that bill if the builder does not take credit cards?

Thanks.

[megaphone]

Could you set up a Paypal account linked to the card, then use Paypal to pay the builder? He may have some fees to pay though.

[AB]

Take £250 a day out of the hole in the wall. Will cost stupid amounts though!

Find a friend who does take credit cards and pay them a £4k payment, ask them to give you the cash back less their fees? My pub used to put through CC sales as drinks and give cash back.

[illmonkey]

Do a balance transfer to your bank account. All of the credit cards I've owned allow this. Some even at 0% intrest over 24 months (with a 3% fee). Some will charge huge interest rates. Phone them up and ask for the deal.

[matt3001]

Take £4k out of your current account, pay the builder.

Use your credit card for every single purchase until you are at £4k, let income accrue in your current account during this period.

Simple.

[P-Jay]

matt3001 said:

Take £4k out of your current account, pay the builder.

Use your credit card for every single purchase until you are at £4k, let income accrue in your current account during this period.

Simple.

Unless he doesn't have £4k in his current account? Which he might not if he wants to pay the builder with a CC?

[jeff m2]

Some people pride themselves on having no bal on a credit card.
I'm not saying you are one of them, but it would appear you also don't have 4K cash.

What you lack is cash flow and therefore limited options.

Your situation would be better if you had a 5K CC bal and 5K cash. Your NAV would be the same, you would of course pay interest on the CC Bal, but many are willing to do that for the flexibilty it gives.

Or tell the builder if he wants the job get a card reader for his phone.

[Wacky Racer]

illmonkey said:

Do a balance transfer to your bank account. All of the credit cards I've owned allow this. Some even at 0% intrest over 24 months (with a 3% fee). Some will charge huge interest rates. Phone them up and ask for the deal.

This.

You should be able to do a balance transfer for around 12 months at 0% APR...but the fee will be around 3%, in your case £120.

Just make sure you save up and pay it off in FULL in 12 months......£4000 divided by 52 weeks = £76.92pw.

[AB]

matt3001 said:

Take £4k out of your current account, pay the builder.

Surely all PHers have £4k disposable!?

We're all bearded directors etc...

Red bull blah blah...

Glad you're minted Matt and thanks for the idea.

[toastybase]

Post office. Get a postal order with your CC and then give it to Bob the builder.

[northandy]

Do a cash transfer to your bank account. Be aware the interest rate will then be a lot higher.

You could then apply for a card with introductory 0% offer, then transfer the balance to that (will cost you 3% ish in fees)