Transferring loan to CC with same provider..

ferry

Just thinking out loud really.
I have a Britannia loan with a £1500 bal outstanding @18.9% APR.
I see they're now advertising a CC from them at 15% APR,interest free for 5 months.

Do you think there would be any problem in transferring a bal from a higher rate APR product to a CC with the same company-would they allow me to do this..?

T.

Rafter

Unlikely - transfers between loans and credit cards are unusual.

You could get the card, make all your purchases on it and use the cash you save to pay off your loan early though.

That is a really high APR though which suggests your credit rating isn't great so you may not get the credit card in the first place.

R.

Phoenix79_2

Or transfer a CC limit from a card that allows super balance transfers. eg...apply for a MBNA/Virgin card and ask for the credit limit (assuming its enough) to be transferred to your current account. Then pay off the loan. The debt on the card will be 0% for 12 months.

Whats your credit history like?

ferry

Hmm..no probs apart from a payment arrangement on a card that was successfully settled in Aug 2005..............:beer:.....unfortunetly it was an MBNA card...