Paying off loans with new credit card 0%..is it possible

hemyinspain

Can anyone tell me if there is a way to take out a new card to pay off bank loans on 0% interest as there is to pay of credit card transfers? Thanks

fozmcfc

You need a Super Balance Transfer card (SBT), which is a card that allows you to transfer money into a bank account.

So you apply for and get a SBT card then what.

1. You ask for a money transfer into your bank account.

2. You pay off the loan with that money.

3. You now owe the credit card the money you transferred. On top of that amount there is a one off fee usually 4% added to the balance.

4. You then have xx amount of months to pay back the card at 0% interest.

The link below shows most of the SBT cards available.

http://www.stoozing.com/sbt.php

You do normally need a good credit history to get a card, so no defaults/ccj, no more than 1 or 2 missed payment in the past few years + whatever else they require earnings wise, whether you are on the electoral role etc...