I have read the key posts on credit cards but still have questions.
I have a loan facility with AIB for €12k for 1 year (student loan where I currently do not make any payments. Interest rate = 8.5%). I intend to repay in full when SSIA matures in Apr 2007. I have drawn down €8.5k of the loan amount.
I need to draw down another €5k for my 06/07 fees and am wondering if it would be smarter it I applied for Ulster Bank Zinc mastercard when there is 0% interest on transfers and purchases. My question is what does it mean 0% on purchases? Does it mean that I can pay my fees using the Zinc card, do not have to make any repayments to UB for 9 months and would not be charged any interest when I repay in full in 9 months time?
If this is the case, I should have gone down this route and saved on the interest owed to AIB thus far.
Thanks.
I have a loan facility with AIB for €12k for 1 year (student loan where I currently do not make any payments. Interest rate = 8.5%). I intend to repay in full when SSIA matures in Apr 2007. I have drawn down €8.5k of the loan amount.
I need to draw down another €5k for my 06/07 fees and am wondering if it would be smarter it I applied for Ulster Bank Zinc mastercard when there is 0% interest on transfers and purchases. My question is what does it mean 0% on purchases? Does it mean that I can pay my fees using the Zinc card, do not have to make any repayments to UB for 9 months and would not be charged any interest when I repay in full in 9 months time?
If this is the case, I should have gone down this route and saved on the interest owed to AIB thus far.
Thanks.