My Loan

daisy1981

thankyou for your help

NouveauRiche

Not necessarily. Halifax CC often have a promotion where they will send you some cheques. The ones I used a while ago were then paid off at 0%. I did have a good payment record with them, even though I mostly only made minimum repayments on my earlier transactions with them.

The cheques can be used for tradespeople, settle other cards, pay into your bank, or settle any loans or overdrafts you may have.

It was over a year ago - so who knows if they are still so keen to fling money at us! I think I last time I had some sent to me was about four months ago, but I didn't use them.

It might be worth 'phoning them and asking if they would consider the same thing before applying.

Hope this helps!

MFWannabe

You need to apply for a credit card that allows Super Balance Transfers. That means you can transfer the amount you need to pay off your loan into your current account and then pay the loan off (request a settlement figure first). I know MBNA cards allow this. This is cheaper than using credit card cheques

NouveauRiche

Have you been at the Christmas sherry, FREEZ? My cheques didn't cost me a thing - they were 0%!

redpete

NouveauRiche wrote: »

Have you been at the Christmas sherry, FREEZ? My cheques didn't cost me a thing - they were 0%!

The interest rate might have been 0% but are you sure there wasn't a cash advance fee?

daisy1981

Can it be done though can you transfer a loan to a credit card? i would have liked to have gone with barclaycard as they have the best deal but as my loan is with barclays I cannot do this!! thankyou for the replies so far

MFWannabe

redpete wrote: »

The interest rate might have been 0% but are you sure there wasn't a cash advance fee?

As Redpete says; there is normally a very high cost involved with using credit card cheques; usually along the same rate as cash withdrawals.

MFWannabe

daisy1981 wrote: »

Can it be done though can you transfer a loan to a credit card? i would have liked to have gone with barclaycard as they have the best deal but as my loan is with barclays I cannot do this!! thankyou for the replies so far

Yes it can; as i stated above you need a card that allows Super Balance Transfers; i know the MBNA cards allow this; such as Virgin card. This allows you to transfer the amount you need into your bank account so you can pay off the loan. There will be a balance transfer fee involved though i.e approx 3% of the amount you need; although the APR will probably be 0% on the balance for a set amount of time.