Moving large debt to credit card

mouse8835

Hi,

We currently have a joint loan through a bank of #18700. We were wondering if there is any way we can transfer this debt on to a credit card so we can take advantage of low or even 0% offers, thus enabling us to pay off the debt quicker. Any help would be greatly appreciated. . .

Walletwatch

Depending on your credit score, and that of your co-applicant for the outstanding loan, if you manage to get credit cards like egg, Mint, etc. which allow you to directly transfer balances to your current account, you can transfer whole or part of the debt to these cards.

The only things you need to watch out for are: apply for another credit card at least six weeks before the 0% period is up on the existing card, make your minimum payments on your cards on time, and before carrying out teh balance transfers, check if there is any penalty on foreclosing or part-prepaying your existing loan.