Transferring from credit card to current account?

Smoggy_2

Hi folks, given that my ISA is now not worth perservering with, thanks to the Clown, i want to pay off my only existing loan. I have just over £6k in the ISA, and my loan is £9750..obviously a bit more than the ISA. I have a very good credit rating ( i have both Halifax and Cap One cards...both empty) so i want to transfer the difference from the Cap One, which is 0% for purchase and balance transfers until next October into my current account and pay off the loan early. Is this possible, or will Cap One tell me to sod off?

Any advice is appreciated....apologies if this doesnt count as Stoozing!?!

YorkshireBoy

Smoggy wrote: »

Is this possible...

It's entirely possible, although perhaps not the way you were anticipating doing it...

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards (read everything, but the Egg Money Card Trick section is what you want)

Whether you should close your ISA is a different matter. After all, it's a use it or lose it benefit...and rates won't always be this low.

If your credit rating really is "very good", consider shifting the loan to more than one card, and keeping the long term ISA benefit intact?

YorkshireBoy

YorkshireBoy wrote: »

...the Egg Money Card Trick section is what you want

Whoops! Sorry, I forgot the Egg Money card is currently not available to new applicants.

Your main options are now MBNA and/or the Egg Card (Visa), but you may not want to use your Capital One card because that'll involve 2 x 3% BT fees.