If you can pay it off in full why do this?
Are you sure that it's technically impossible? I suspect so but I don't know for sure.You can't do it and
Not necessarily. See my previous post.YoOu would end up paying more interest even if you could.
We don't know that this is the main or sole reason. Maybe the original poster can explain why they might want to do this?Seems a bit mad though simply for the sake of gaining an extra month's credit.
Reward schemes
Companies such as Tesco (www.tesco.ie) and Ryanair (www.ryanair.ie) offer points every time you use the card in certain places. This can equate to a cash equivalent in that you can use points to avail of discounts on goods and services bought in Tesco or through Ryanair, so these cards can be a good idea if your usage pattern allows you to build up significant points.
American Express Blue card gives cardholders 1% of the value of all purchases as 'MoneyBack'. This allows the cardholder to earn 1c for virtually every €1 spent on the Blue Card. MoneyBack is calculated automatically, updated on a monthly basis and credited to your account every 12 months. The problem with American Express is that it is not as widely accepted as Mastercard or Visa, but if you use your credit card to pay for holidays, grocery shopping, eating out, petrol etc., it might be worth your while to maintain two credit cards account, for example, an American Express Blue Card (from Bank of Ireland-[broken link removed]) and a Zinc Card (a Mastercard from Ulster Bank-www.ulsterbank.ie). The Blue Card will give you 1% MoneyBack, so as long as you spend over €4,000 a year (on average over €330 per month), you will have earned enough to cover the cost of the Stamp Duty on the card, and everything else is money in your pocket. The Zinc card will give you a €40 reward if you spend over €6,000 a year (on average over €500 per month). So it may be worth considering whether you spend enough every month (on average) to take advantage of these offers.
As always, read the small print as terms and conditions do apply to these offers and watch for higher than average interest rates, fees, charges etc. on cards that offer loyalty bonuses.
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