Loans for £500?

saffy_2

Hi
I've been looking around for a loan for £500. However they seem to be in short supply. In my ideal world I would like it for 12 months .

My options seem to be credit card - have already transferred money onto a 0% card with Egg and don't really want to put anymore onto a card as basically it is too tempting for me to only pay the minimum, I am more looking to pay a fixed sum a month by direct debit. Also my 0% deal is coming to an end.

My other option seems to be to borrow £1000 on a flexible loan whereby I have the £500 I need and can pay back the £500 I don't!

Any opinions? Also any reccs for best flexible loan?

First posting - so hope I've done this right!

saffy

Pal

The obvious thing to do is save the £500 rather than trying to borrow it. Do you really need it that urgently?

Assuming that you do, apply for a new 0% card to replace the expiring Egg card. Then balance transfer your existing CC balance plus another £500 from the new credit card to Egg.

Then balance transfer the spare £500 from Egg to your bank account. This gives you your £500 a 0% interest.

Then destroy both credit cards to stop you spending on them, and then pay off the 0% balance off the new card as fast as you can by paying a fixed amount each month.