Home Loan And Credit Card Interest Free!

Discussion in 'General Credit Card Discussion' started by PLANT, Nov 11, 2006.

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  1. PLANT

    PLANT Established Member

    Jan 23, 2005
    2,933
    350
    O.k
    It's Been In The Papers 4 Weeks Ago And Again Today In The "home" Magazine Section Of Heraldsun.
    Error Found Should Be $1750 Saving For 6 Months!

    Redraw $50000 On Credit Card,transfer Debt Onto New Credit Card With Interest Free Period And Save Interest On Home Loan!

    The Issues I Have And Would Like Answered:

    1. Doesn't The Credit Card Charge "Cash Advance" Interest Straight Away, Around 18%, Before You Get A Chance To Transfer Your Debt?

    2. Who's Done It And With Which Cards?

    Regards!
     

  2. PLANT

    PLANT Established Member

    Jan 23, 2005
    2,933
    350
    O.K

    Found out the answers to my own questions:

    1. No it is $2.50 if in still in credit after cash advance and 2% if in debt.

    2. Wizard and Virgin are the only two I know at the moment!

    Its a go for me!
     
  3. clifford

    clifford Established Member

    Jul 6, 2004
    1,774
    245
    Canberra / London
    Please forgive me if I'm being overly obtuse, but...

    isn't this "frequentflyer.com.au", ie supposed to be remotely about frequent flying (or any other kind of flying, for that matter)?

    Sorry.
     
  4. PLANT

    PLANT Established Member

    Jan 23, 2005
    2,933
    350
    Fair call!

    Took the General Credit Card Discussion too literally hey?

    But you could look at it like this too:
    Save money on interest from from credit card and spend it on ticket to fly?

    As really that is the POINT(s) of it all!

    Regards
     
  5. Kiwi Flyer

    Kiwi Flyer Senior Member

    Sep 24, 2004
    5,453
    4
    Bad anology. Using the same logic we could all post about cheapest places to buy petrol.
     
  6. NM

    NM
    Moderator

    Aug 27, 2004
    15,778
    1,216
    Flight Map:
    View my flight map
    Or the cheapest place to buy beer :p (now we are on topic).

    Credit cards and other financial services are often an integral part of frequent flyer's strategies for maximising the benefits available through their loyalty programs and eventually result in travel benefits. At some stage we need to determine the value of the travel-related benefits of these financial services against the non travel-related benefits. As FF's we will often place a higher weighting on the travel-related benefits, but "normal" people may apply different weightings :shock: .
     
  7. PLANT

    PLANT Established Member

    Jan 23, 2005
    2,933
    350
    Done!
    $15000 On Wizard Card

    Cost $156.80 For Cash Advance And Transfer!
    Saved Minimum $440 In Interest!

    Thats Honolulu On Jetstar Oneway!
     
  8. simongr

    simongr Enthusiast

    Jul 10, 2006
    14,229
    1,742
    Umm - bit of a stretch to link the saving to the price of a flight.

    Frankly this thread is incomprehensible from the first post. It references an article without a link, comments on some issue that no-one knows about and mentions what the error should be...

    Bad form
     
  9. dgruber

    dgruber Intern

    Oct 8, 2005
    54
    0
    Yeh what is this all about?

    Care to provide a link at minimum as to what the offer entails?
     
  10. PLANT

    PLANT Established Member

    Jan 23, 2005
    2,933
    350
    O.K all.
    Cannot provide link as there is non when I looked at homesite.com.au.
    Hence, why I started thread with "TODAY'S" Home magazine, HeraldSun.
    You will need to look it up to see the article! How? Goto the library.

    This offer only worthwhile to those that can access two credit cards with high limits and redraw on homeloan.

    If you send wife or take the time to investigate this option you will save money for a trip like I have!

    Have a Merry Xmas and a rewarding New Year!
     
  11. PLANT

    PLANT Established Member

    Jan 23, 2005
    2,933
    350
    Just an update!

    Have now done it with HSBC!
    That's interest free till Oct 2007
    Another $15000!
    Total now: $30000 interest free.
    Saving: $1000+

    New tip: Take out a business online account so you can pay it off after interest free time up.Cost 0.25cents instead of $10 cheque!
     
  12. vilemerchant

    vilemerchant Intern

    May 8, 2007
    83
    0
    Sorry to bump such an old thread, but i would just like to point out that Bendigo Bank cards have FREE cash advances and are perfect for this kind of thing.
     
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