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regarding credit cards and flexi-loans
lemming81
Posts: 2 Newbie
in Credit cards
I have a small flexi-loan of £2000 that has been the monkey on my back for five years now, and I was wondering if it were possible to pay it off using a credit card? I've seen a good 0% interest and balance transfers one (the Halifax One online only mastercard) and would like pay off the flexi-loan using this to a)avoid the interest charges on the loan and b) to take away the temptation of tapping into it every time I run into trouble.
I was intented to cut up the CC once the transfer took place.
I was intented to cut up the CC once the transfer took place.
0
Comments
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You need a card that allows Super Balance Transfers. Egg Money or MBNA are your best bet. Transfer your credit limit (or however much you need) into your current account and settle the loan0
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Will those cards still have 0% interest and 0% balance transfers though?0
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MBNA won't be 'free' to transfer to your bank account....you'll pay a fee (2% or 3% can't remember which) But you will get 12 months 0% on it. As for Egg.....i really don't know. I've never had an Egg card....i just know that you can transfer into your account. I'll await an expert to clarify that.0
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