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Paying off loan using credit card?
MrsHappy_3
Posts: 2 Newbie
I have a feeling you are not allowed to do this, but I wondered if there was a way around it...
We took out finance for a car. I know, should never have done that in the first place!!!! The plan was to take out a cheaper loan and pay that one off immediately to get rid of it. I wondered if there was a way of taking out a credit card that had a low interest rate for the life of the balance, and pay off the loan with it. I've been given a settlement figure from the loan company, it's just a case of finding the best way to pay it off. Any suggestions welcome! Thankyou.
We took out finance for a car. I know, should never have done that in the first place!!!! The plan was to take out a cheaper loan and pay that one off immediately to get rid of it. I wondered if there was a way of taking out a credit card that had a low interest rate for the life of the balance, and pay off the loan with it. I've been given a settlement figure from the loan company, it's just a case of finding the best way to pay it off. Any suggestions welcome! Thankyou.
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Comments
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You want to look for a card that allows super balance transfer - ie balance transfers to your current account which you can then us to pay your loan off. Cards that offer this are MBNA, Virgin, Post Office and Egg.Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
Another 3% shaved off 10/12/08
ANOTHER 4 % June 09:beer:0 -
It does sound great, but is there a fee for this?0
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