Hi OzBargainers!
I am looking to purchase a used car, a cheap one at $2000 or so. I know I should just save for it, but I'm so much better at repaying debt than I am at saving. I know I will probably have to pay a credit card fee (2%-ish?), which I am ok with.
My plan is to look for a card with no annual fee (or try to get them to waive it) and a 0% rate on purchases for at least 6 months, although 12 months would be even better. I am positive I can pay the balance off within this time.
I have done a bit of research, but before delving further I wanted to check with this community whether this is even a feasible plan. Are there usually conditions that you need to meet to qualify for these interest free cards, e.g. minimum monthly spends? Will I qualify for a card with a $2000+ transaction limit?
Some more info about me, if that helps:
- I have never had a credit card before
- I have a mortgage which I have never been in arrears for
- My property is not my residence - I earn a rental income from it that covers my mortgage repayments
- I earn approx $36K in a part-time permanent job
I hope I get some responses, any advice is much much appreciated, thank you!!
What are you getting around in right now?
$2,000 car from a dealership is gonna be a very average car!