To get a 0% loan, pervert your plastic!

"There are no 0% loans, but there are 0% credit cards... so the trick is to turn cards into a loan.

The easiest and cheapest way only works when borrowing for something you can pay for by credit card, eg, a washing machine (if not, skip to point 3). It's best for smaller borrowing as card credit limits above £3,000-£5,000 are tough to get.

Use the 0% Cards Eligibility Calc to see which your best card is, eg, Sainsbury's Bank's* 28mths 0% is currently the longest 0% period (it also gives Nectar points on spending). Once you've got a card...

i) Buy your planned purchase on it (nothing else - be disciplined).
ii) Never miss a min monthly repayment or the rate can shoot up.
iii) Repay within the 0% period and it's TOTALLY FREE.
iv) Be warned - fail to clear within the 0% time and the rate rockets (eg, Sainsbury's jumps to 19.9% rep APR)."

1 Comment
Thanks for sharing! I wonder what the approval rates are and for those who meet the requirements, and if they are likely shoppers of this...
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