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Turning credit cards into loans
Having read about turning credit cards into loans, where the Egg card was used as an example, does anyone know if I can do this with the Intelligent Finance credit card that is offering 4.95% life of balance transfer rate. I only ask as they don't accept balance transfers from Halifax cards of which I have and would like to transfer. This card is being named as one of the top ones so would like to take advantage if possible.
Did owe £9,951.96
Now helping hubby pay off loan. Finally paid off :j
Owe Virgin [STRIKE]£5,950.00 [/STRIKE]at 0% til June 2009 £3,427.89. Owe HSBC [STRIKE]£5,460.78 [/STRIKE]2.9% til May 2010 £3,703.07. Owe Post Office £1,676.62 at 0% til September 2010
Now helping hubby pay off loan. Finally paid off :j
Owe Virgin [STRIKE]£5,950.00 [/STRIKE]at 0% til June 2009 £3,427.89. Owe HSBC [STRIKE]£5,460.78 [/STRIKE]2.9% til May 2010 £3,703.07. Owe Post Office £1,676.62 at 0% til September 2010
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Comments
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No, you cannot transfer a balance from Halifax directly to IF. See other cards with low life of balance rate here: http://www.stoozing.com/0fees.htm (bottom of the list).lynseydee wrote:... does anyone know if I can do this with the Intelligent Finance credit card that is offering 4.95% life of balance transfer rate0 -
Thanks for your reply grumbler but I what I really wanted to know was whether I could treat the IF card like the Egg card that was used in the example under "turning credits cards into loans". Thanks for the link though, I will certainly have a look.Did owe £9,951.96
Now helping hubby pay off loan. Finally paid off :j
Owe Virgin [STRIKE]£5,950.00 [/STRIKE]at 0% til June 2009 £3,427.89. Owe HSBC [STRIKE]£5,460.78 [/STRIKE]2.9% til May 2010 £3,703.07. Owe Post Office £1,676.62 at 0% til September 20100 -
Egg Money card is a unique card. In the example it is used as an intermediate (mule) card to move a loan to a low LOB rate credit card. As far as I understand, your debt is a credit card balance, not a loan.lynseydee wrote:... what I really wanted to know was whether I could treat the IF card like the Egg card that was used in the example under "turning credits cards into loans". Thanks for the link though, I will certainly have a look.0 -
Thanks grumbler, back to the drawing board I guess.Did owe £9,951.96
Now helping hubby pay off loan. Finally paid off :j
Owe Virgin [STRIKE]£5,950.00 [/STRIKE]at 0% til June 2009 £3,427.89. Owe HSBC [STRIKE]£5,460.78 [/STRIKE]2.9% til May 2010 £3,703.07. Owe Post Office £1,676.62 at 0% til September 20100
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