How to better finance your season ticket over 12 months
While the loan arrangement admin fee is only 6% for West Ham’s scheme the APR can work out between 14.35% and 38.35% even in the club’s own examples.
Another method used by many supporters is to apply for a 0% Credit Card for the sole purpose of paying off the season ticket over 12 months.
This method does require some financial discipline to make the most out of it, the 0% rate is usually introductory offer so you must pay it all off before the interest free rate ends on purchases and you should divide the cost of your season ticket by twelve to pay off the season ticket in 12 equal monthly repayments by direct debit rather than the minimum credit card payment that is required.
I also advise cutting the plastic credit card in two once you have paid for the season ticket on the ticketing website or over the phone so you are not tempted to spend anything else on it, cancel the card immediately at the end of 12 months period allowing you to apply for another card with 0% from another provider next year and repeat the process all over again.
If you look at the Money Saving Expert website you will find a list of 0% credit cards for purchases which include companies such as MBNA, Barclaycard, Clydesdale Bank, Yorkshire Bank and Tesco Bank. https://www.moneysavingexpert.com/credit-cards/best-0-credit-cards/
If you think you have a poor credit rating it is worth using the Credit Card Eligibility Calculator before applying with a credit card company as a refusal could affect your credit rating.
Disclaimer: This information does not constitute financial advice and you should always do your own research on top to ensure any credit product is right for your specific circumstances. If you believe you can’t be disciplined in your use of credit card and making regualr monthly equal payments then this method is not for you so should be avoided.