Possible to pay off a £3.5k loan with a 0% cc?

mark260171

Hi guys

I had a brief look through post but couldn't find my answer

I have a £3k loan with a early repayment penalty of £500 with 5 years left at 10%ish with GE

It was originally £5k over 10 years

Is it possible to get a 0% life of balance or as near to 0% as possible and get a cc to pay it off and repay the credit card?

If so how and which one?

Do you have to get a cheque book associated with the cc and does it inccur a further charge for writing a cheque to pay off the loan?

I'm new to this so any advice is mucho appreciated

Thanks in advance

Mark

Mozette

The MBNA Virgin card may be suitable - you can transfer money to your current account, then pay the loan off with a 'normal' cheque, though I've a feeling they may do 0% cheques too - but please check this out as I'm not sure. 0% for 15 months by the way.

kitkat84_2

Virgin (MBNA) do offer credit card cheques at the same rate as a bt and the fee is usually the same.

NickX

MINT also issue Credit Card Cheques that carry Balance Transfer rates. However they cannot be requested so, unless they are already in your possession, you have to wait until they drop through your letterbox.