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Transferring a loan to a credit card
AuctionMan_2
Posts: 57 Forumite
in Credit cards
Hi all,
I currently have a loan with MBNA (circa 8K) and I have been thinking about transferring this to a 0% credit card so that my repayments (plus a little extra) can be used to reduce it quicker and hopefully pay it off before the introductory offer ends...or else transfer the balance to a new 0% card an clear it that way.
My question is how can I achieve this, how do I get the value of my loan transferred to the credit card?
Very new to this so please bear with me if I appear stupid :rolleyes:
Thanks in advance for any help in this matter.
I currently have a loan with MBNA (circa 8K) and I have been thinking about transferring this to a 0% credit card so that my repayments (plus a little extra) can be used to reduce it quicker and hopefully pay it off before the introductory offer ends...or else transfer the balance to a new 0% card an clear it that way.
My question is how can I achieve this, how do I get the value of my loan transferred to the credit card?
Very new to this so please bear with me if I appear stupid :rolleyes:
Thanks in advance for any help in this matter.
EBay is the holy grail of Auction Sites, use it to clear your unwanted items and generate you some income to spend on whatever you want. Just don't get addicted like me 
20p Savers Club = £36.00 :j 1p, 2p & 5P TIN = £10.89 :T
20p Savers Club = £36.00 :j 1p, 2p & 5P TIN = £10.89 :T
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Comments
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Hi - I'm sure there are others who can give you up to the minute guidance on the cards that best suit your particular requirement - I would think a starting point would be to get a settlement figure for your loan to see if it would be worthwhile making the transfer - if you've had the loan for a while it may be that you have paid most of the interest on the loan already.0
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not all c/cs will take balance transfer from a loan (e.g lloyds tsb)0
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Do you have an Egg or MBNA card?0
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MBNA Card (not 0%) yes..EBay is the holy grail of Auction Sites, use it to clear your unwanted items and generate you some income to spend on whatever you want. Just don't get addicted like me
20p Savers Club = £36.00 :j 1p, 2p & 5P TIN = £10.89 :T0
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