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loan onto card?
chrishusky
Posts: 2 Newbie
in Credit cards
:wave: Hi everybody
I'm new to the forum but have been using the site for years now, thanks Martin and team.
I have a question I was hoping someone could answer,
Can I 'balance transfer' a personal loan onto a 0% credit card? I have about 5k outstanding on a 7.2% personal loan and would really like to get it paid off faster with a lower interest rate.
Cheers
I'm new to the forum but have been using the site for years now, thanks Martin and team.
I have a question I was hoping someone could answer,
Can I 'balance transfer' a personal loan onto a 0% credit card? I have about 5k outstanding on a 7.2% personal loan and would really like to get it paid off faster with a lower interest rate.
Cheers
0
Comments
-
One of several options, but by far the cheapest...
Get an M&S card
Buy Sterling travellers cheques with it from M&S
Deposit the travellers cheques into your current account
Settle the loan from there
The above will get you 15 months 0% for a 1% fee.
Balance transfer the debt next summer (if 0% BT deals are still around then!?) as a standard card to card BT.0 -
What will the interest rate on the credit card be once the 0% ends?
Can you guarantee to clear the full balance before the charges kick in?Try to be a rainbow in someone's cloud.0
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