Pay off loan with Credit Card

nochain

Right, I have a loan with BMW in the form of a personal loan which I wish to pay off and put onto a 0% credit card as to stop paying off the huge interest.

I phoned up today to do this and they said that I could not use a credit card to pay off the debt, only a debit card.

Question is, can they refuse this and if so, is the only way i'll be able to pay this off (without getting a separate loan) is simply by saving up the hard way.

Many Thanks.

bengalknights

The only way would be to either use a SBT card or somehow transfer the card balance to bank account and then pay with debit card.

Tixy

Very few loan provider will allow you to pay off your loan with a credit card.

You could consider a 0% super balance transfer card (although there will then be balance transfer fees to pay).
If you already have the card you were going to put it on what card is it?

nochain

I've only just got it, its the current Barclycard one out there.

DCFC79

Yes they can refuse the loanee paying the loan off with a cc, it will be in the t&c's you signed up to.

Tixy

I don't think there is any way you can use the barclaycard to pay off the debt that would be at 0%. You could try one of these cards http://www.stoozing.com/sbt.php- although obviously your recent bcard might make it harder to get another card.
And you'd need to factor in the transfer fee and how long it would take to pay off the debt to see if it would be financially worthwhile.