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Will this work?

asininity
asininity Posts: 1,615 Forumite
in Credit cards
If I get a new credit card with 0% on balance transfers and purchaces will I be able to use it to pay off a finance loan I have for my car?

Cheers guys.

Comments

  • gizmo111
    gizmo111 Posts: 2,672 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Who is the card with?
    Mama read so much about the dangers of drinking alcohol and eating chocolate that she immediately gave up reading.
  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
    asininity wrote: »
    If I get a new credit card with 0% on balance transfers and purchaces will I be able to use it to pay off a finance loan I have for my car?

    Cheers guys.

    I think you need to have a car that you can SBT on
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!
    Official SOS Club number 001 - Dry until 01.07.10
  • asininity
    asininity Posts: 1,615 Forumite
    Sorry what is SBT? and the card would be halifax.
  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
    asininity wrote: »
    Sorry what is SBT? and the card would be halifax.

    SBT = Super Balance Transfer

    There are only a few cards that you can do this on I do not believe that the halifax is one. I will get the list and get back to you.
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!
    Official SOS Club number 001 - Dry until 01.07.10
  • asininity
    asininity Posts: 1,615 Forumite
    I thought it would be a case of just ringing up the finance company and giving them the card details and that was it.
  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
    asininity wrote: »
    I thought it would be a case of just ringing up the finance company and giving them the card details and that was it.

    It is dependant on the finance company. I was allowed to do this with my Barclays motor loan however some lenders do not allow this. If you are using a Halifax Credit Card see if it is possible that they can send you some 0% cheques.

    See the below thread

    http://forums.moneysavingexpert.com/showthread.html?t=1506815&highlight=super+balance+transfer

    Good luck
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!
    Official SOS Club number 001 - Dry until 01.07.10
  • asininity
    asininity Posts: 1,615 Forumite
    Well what it is is I've just bought the car and put a 2000 quid deposit on it with my 0% CC and got the dealers finance deal on the rest. I currently dont have another CC so was thinking of signing up to one that allows me to pay off the finance. Would the Virgin CC allow this?
  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
    asininity wrote: »
    Well what it is is I've just bought the car and put a 2000 quid deposit on it with my 0% CC and got the dealers finance deal on the rest. I currently dont have another CC so was thinking of signing up to one that allows me to pay off the finance. Would the Virgin CC allow this?

    Yes I believe Virgin, Egg & MBNA.

    Better start cooking but will be back later!
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!
    Official SOS Club number 001 - Dry until 01.07.10
This discussion has been closed.
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