Credit cards queries

[Shaz]

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.

 

[CCOVICH]

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?

Yes, that is essentially the case, but ensure that the ts and cs have not been changed, as this poster appears to be saying.http://www.askaboutmoney.com//showpost.php?p=249793&postcount=15

If this is the case, I should have gone down this route and saved on the interest owed to AIB thus far.

Maybe, but the costs of not clearing the balance in time could be higher than those on a personal loan.

 

[irishpancake]

I have read the key posts on credit cards but still have questions.....

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...........

You certainly could apply for the UB Zinc Card, but would you qualify:

If you earn €30,000 a year or more, our Zinc card offers you increased spending power and a €40 reward.

see [broken link removed] also [broken link removed] for UB Student Finances Guide.