Can i pay off personal loan with credit cards?

emma70_2

I have a loan outstanding at the min about £8,200 over five years i am paying around £143 ish per month. Is it possible for me to get credit cards with 0% interest for 15 months borrow that money pay off the loan, then pay credit cards for 15 months and change again to 0%? or is it not worth it

Locke

What interest rate is your loan at?

emma70_2

HSBC think it's 6.9% over five years, i got £7,000 paying back £8,???? whatever not very good with figures lol

Idiophreak

Do you know what charges you'll need to pay as a result of paying the loan off early?

And do you generally have a good credit history and good income?

emma70_2

i think about £100 to pay off early but not for sure. Not a great income but enough, and credit i have no problems there. i applied today for Barclays and Virgin they gave me £5,000 limit. I am with HSBC and at that time gave me £5,000 limit thats on their Credit Card. I have a bit outstanding on that not too much but i am transferring that money onto one of the 0% cards.