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Short Term Loans

Discussion in 'General Discussion' started by toosepin, 25 Nov 2011.

  1. toosepin

    Hitman

    Joined: 9 Jun 2006

    Posts: 954

    Location: Manchester

    Hi folks,

    If you needed to borrow £4000 on a short-term basis and you would be paying that amount off within 2 months maximum. What would you do? Would you take our a personal loan and repay early? What other options are available?

    I have an excellent credit history and rating and already have an interest free credit card (3K limit) although I can't use that for this.
     
  2. Kezmo

    Wise Guy

    Joined: 28 Apr 2006

    Posts: 2,211

    Location: Northampton

    overdraft
     
  3. LiE

    Capodecina

    Joined: 2 Aug 2005

    Posts: 22,455

    Location: Milton Keynes

    Get another credit card with interest free.
     
  4. chad116

    Gangster

    Joined: 5 Jul 2011

    Posts: 100

    To be honest i would not recommend any kind of money lending scheme to anyone.
     
  5. daz

    Capodecina

    Joined: 18 Oct 2002

    Posts: 24,020

    Location: Bucks

    You'd probably be living in a mud hut were that the case.
     
  6. Mark M

    Mobster

    Joined: 6 Jan 2006

    Posts: 3,261

    Location: Newcastle upon Tyne

    Overdraft or 12 month loan. I know you said 2 months but you will be paying more interest on your overdraft than you will the loan I imagine.
     
  7. PMKeates

    Capodecina

    Joined: 16 Jul 2004

    Posts: 14,052

    0% credit card if possible, then overdraft, then personal loan that you pay off early.
     
  8. toosepin

    Hitman

    Joined: 9 Jun 2006

    Posts: 954

    Location: Manchester

    Problem with applying for credit cards, they don't tell me how much credit they want to give me - presumably they might if I rang up?
     
  9. PMKeates

    Capodecina

    Joined: 16 Jul 2004

    Posts: 14,052

    Maybe. Do you need to borrow it very soon? Overdraft will be the fastest and easiest way, and the total interest charge over 2 months will be very little - maybe £100?
     
  10. lookitsjonno

    Mobster

    Joined: 10 Sep 2003

    Posts: 4,410

    Location: Midlands

    Overdraft or credit card.

    If you have an excellent credit record, and I assume you will have a good wage if you intend on paying 4k back in 2 months, you should get £4k+ easily.

    Just got £4.9k credit on a barclays card i'm just using for the 22 months balance transfer.
     
  11. [email protected]*nG

    Soldato

    Joined: 18 Oct 2002

    Posts: 6,445

    ye, they'll let you know pretty quickly

    [email protected]
     
  12. J1234

    Capodecina

    Joined: 16 Oct 2005

    Posts: 13,800

    0% credit card.

    I got a Bank of Scotland All in One 0% credit card a few months ago and it told me what my credit limit will be at the end of the online application.
     
  13. Mr Jack

    Capodecina

    Joined: 19 May 2004

    Posts: 23,035

    Location: Nordfriesland, Germany

    Credit card!
     
  14. jamief

    Soldato

    Joined: 23 Sep 2005

    Posts: 5,417

    Location: Dundee

    And why is that Chad?
     
  15. ElliottJames

    Wise Guy

    Joined: 12 May 2011

    Posts: 2,120

    Location: UK

    Interest free credit card. Overdraft has mean interest
     
  16. PureAppleJuice

    Wise Guy

    Joined: 18 Dec 2005

    Posts: 1,443

    Location: Londontown

    Definitely 0% interest for X period credit card. I've had to do this for some tuition fees- i.e. I know I'll have the money in a short time but not as early as I need to pay them.