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Paying annual insurance with interest free credit card? Watch

    • Thread Starter
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    Has anyone here ever done this?

    Saw it as a tip on moneysavingexpert.com.

    I can only pay monthly either way but apparently paying annually is usually like 20 percent cheaper. Plus with some cards like the tesco club card i get even more bonuses.

    Although if I mess it up I could get into major debt.

    Worth the risk or not? I consider myself quite good with money.
    • TSR Group Staff
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    So long as you can afford to pay it back there's no harm in doing this. Debt is only bad if you mismanage it, or borrow more than you can afford. So as long as you budget the repayments properly you shouldn't have any issues.
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    Yep, is worth it, however you may have to pay a small fee for using credit card......
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    Have done it a couple of times yes, even if I had the amount in my account to pay by debit card but didn't want it all to fly out in one go.

    I usually pay it all off in a few payments though rather than take 12 months, but it doesn't matter either way as long as you have paid it all before you start accruing interest.
 
 
 
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