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Transferring a Personal Loan onto a Credit Card
vincent_2
Posts: 9 Forumite
in Credit cards
Hi,
Does anyone know any credit card companies who will let you transfer a personal loan onto the card? I know that egg do it but I already have an egg card. Any others?
Also, is there anyway to request a credit limit when you are applying for a card? In my experience the credit limit is decided by the company after you have applied.
Thanks,
V
Does anyone know any credit card companies who will let you transfer a personal loan onto the card? I know that egg do it but I already have an egg card. Any others?
Also, is there anyway to request a credit limit when you are applying for a card? In my experience the credit limit is decided by the company after you have applied.
Thanks,
V
0
Comments
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Apply for another 0% credit card. Do a balance transfer onto your Egg card and then transfer whatever POSITIVE balance is left into your current account. Then use this to pay off your loan.
If you apply for a Capital One card, you can tell them when you apply online. I think this may help the application as then they can see that you are transfering existing debt as opposed to adding further to existing debt.
How much is outstanding on your loan?0 -
If you make your repayments by Standing Order or Bank Giro Credit then you probably already have the details needed to request a balance transfer to a "bank account" and won't need to mention "personal loan".
The pre-printed postal applications I received recently for the Lloyds TSB "Rewards" Amex had the necessary boxes for transfer to personal loans but I've no idea whether this can be done for online applications.0 -
The_Boss wrote:How much is outstanding on your loan?
I've got about £11,000 and want to start paying large amounts each month to it (£500+) to try and shift it. As the loan company, Norther Rock, wont accept payments larger than that agreed and I don't want the monthly repayment set in stone, I'm looking to shift the loan. It would be ideal to shift it onto a 0% card but I don't want to start applying for different cards only to find out that the credit limit isn't large enough to cover the loan and ruining my credit score along the way.
Thanks.0 -
That could be a plan. However, I'd need to check if Northern Rock would accept this. They don't allow payments over the ammount agreed on. I will give them a call and find out what the story is.Cybergeek wrote:If you make your repayments by Standing Order or Bank Giro Credit then you probably already have the details needed to request a balance transfer to a "bank account" and won't need to mention "personal loan".
The pre-printed postal applications I received recently for the Lloyds TSB "Rewards" Amex had the necessary boxes for transfer to personal loans but I've no idea whether this can be done for online applications.
Thanks0 -
You need a super balance transfer card eg egg, mint, abbey. They allow you to transfer money to current accounts and loans as well as ccs.
Do note though that they charge a bt fee of (I think) 2%.0
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