Credit cards and stuff... Watch

Bedshaped
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#1
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My housemates want to pay the gas/water/electricity bill and I don't have the money.

I really don't want to ask my parents, my loan comes in 1 month (25th april).

So, I've decided to pay it with a credit card, however...I don't have one and I don't know ANYTHING about them. I literally need it to pay off my part of the bill.

So heres some questions.

1) Where do I get a credit card from?
2) How long does it take to get a credit card?
3) Which credit card is the best?
4) Can I transfer money into a bank account with a credit card?
5) How long do I have until I have to pay back the money?
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Juno
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1) Your bank is probably best
2) Probably about a week or so
3) Any you can be accepted for, as you won't have a great credit rating
4) Usually not. And getting cash out (ie cash machine) is ridiculously expensive.
6) Up to 56 days interest free. You get a statement once a month, and then you have to pay it off within 3 weeks. You can only make a small "minimum payment" rather than the full amount, but this will cost you more.
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Bedshaped
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(Original post by Juno)
1) Your bank is probably best
2) Probably about a week or so
3) Any you can be accepted for, as you won't have a great credit rating
4) Usually not. And getting cash out (ie cash machine) is ridiculously expensive.
6) Up to 56 days interest free. You get a statement once a month, and then you have to pay it off within 3 weeks. You can only make a small "minimum payment" rather than the full amount, but this will cost you more.
Any idea how I can get the money transferred? I've heard of cheques that have a very low interest rate...I really need to be able to transfer money to the account...
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Juno
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(Original post by Bedshaped)
Any idea how I can get the money transferred? I've heard of cheques that have a very low interest rate...I really need to be able to transfer money to the account...
No, credit card cheques are evil. There's really no cheap way to do as you want - this will cost you interest from the day you take it out to the day you put it back as there is no interest free period like with purchases. The interest rate is also higher.
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Jmzie-Coupe
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You've decided to pay it with a credit card you haven't got?

Good one.
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rockrunride
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I'd seriously consider humbling yourself to your parents or housemates. The high-interest and low-credit rating credit card companies will unfortunately love a case like yours.
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callum9999
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(Original post by Bedshaped)
My housemates want to pay the gas/water/electricity bill and I don't have the money.

I really don't want to ask my parents, my loan comes in 1 month (25th april).

So, I've decided to pay it with a credit card, however...I don't have one and I don't know ANYTHING about them. I literally need it to pay off my part of the bill.

So heres some questions.

1) Where do I get a credit card from?
2) How long does it take to get a credit card?
3) Which credit card is the best?
4) Can I transfer money into a bank account with a credit card?
5) How long do I have until I have to pay back the money?
Why can't you just pay your part of the bill with the credit card instead of withdrawing money?

(Original post by rockrunride)
I'd seriously consider humbling yourself to your parents or housemates. The high-interest and low-credit rating credit card companies will unfortunately love a case like yours.
Not necessarily. The interest could be 1 million per cent but assuming she doesn't spend more than her loan, they won't pay a penny in interest.
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WoWZa
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Just put the funds into an account (such as a debit one) and transfer it, either by cheque or calling the company. The thing is with credit cards is that they are associated with credit ratings, and this can influence other potential purchases such as getting a mortgage or whatever, if there are delays in paying the bank back or whatever. You can also call the company and inform them that the payment will arrive late too.
Last edited by WoWZa; 7 years ago
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Bedshaped
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(Original post by callum9999)
Why can't you just pay your part of the bill with the credit card instead of withdrawing money?



Not necessarily. The interest could be 1 million per cent but assuming she doesn't spend more than her loan, they won't pay a penny in interest.
Could I actually do this? The bill isn't under anybody's name and I just assumed that one person would have to pay it all off?
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Tiddlywinks
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You get charged to pay MOST bills using a credit card and they will expect payment in full not part payment.

Can you have your overdraft extended instead?
How much is 'your share'?
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