Can i keep a credit card in credit?

koshiuk

I need to pay of a small hsbc loan, so i think the only way of doing this would be to spend on my hsbc credit card increasing my current account balance (which id then use to pay off the loan) and then doing a 0% balance transfer from the hsbc credit card to my 0%, effectively shifting the loan debt and hsbc card debt from 2 x 19% apr to 1 x 0%

But i'l have to estimate the value of the debt going onto my credit card spend, and then balance transfer that amount... what do you think, is this do able?

Thankyou

lisyloo

Why won't you kow what it is exactly?
Don't you have on-line access? can't you phone up and ask?

Generally you are not allowed to go into credit.
The amount could be refused and sent back.

redpete

koshiuk wrote: »

But i'l have to estimate the value of the debt going onto my credit card spend, and then balance transfer that amount... what do you think, is this do able?

Why not wait until you get the CC bill which will tell you the exact amount and then do the BT for that amount?

koshiuk

lisyloo wrote: »

Why won't you kow what it is exactly?
Don't you have on-line access? can't you phone up and ask?

Generally you are not allowed to go into credit.
The amount could be refused and sent back.

I'l probably put my hsbc credit card £1500 approx in credit from the 0% transfer as thats roughly how big my loan will be which i need to pay off, which i'l pay off with my current account. this is quite adventurous for me so please let me know if im doing anything wrong... do you think hsbc will refuse the extra cash going onto the credit card then?

i just need to clear that loan... grrrrr

many thanks.