The best ways to borrow money at no cost and maximize protection

0% CREDIT CARD LOANS: Good for small but complex amounts

If you want a cash loan (for example, you buy something you can’t pay with a credit card) then for less than £ 3000 a 0% money transfer credit card can be done. a way to get a lot more. cheaper than traditional loans.

Here, for a one-time fee of 3-4% of the transferred amount, you transfer money from the card to your bank account and then owe instead of the card company.

✔️ Pros: Interesting for a decent time | Can verify eligibility without applying | Regulated – can therefore go to the ombudsman if there is a problem

❌ Disadvantages: One-off costs | No protection under Article 75 | Easy excessive spending and borrowing | Refunds are not fixed, so it’s easy to underpay | Not everyone can have one

As with the 0% spend cards, money transfer cards are ideal for those who trust themselves to only use them for a one-time purchase and to clear the card before the 0% is over. These cards are complicated, so please read our guide to 0% money transfers to make sure you get it right.

What really matters is what you’ll be accepted for, so ALWAYS check which 0% money transfers you’re most likely to get first.

Once you have a card, make the transfer as soon as possible. Then make sure you repay it within the 0% deadline – the best way is to set up a direct debit repayment for a fixed amount, much like having a loan, to make sure you pay it off (and never miss a payment).

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