Paying a payday loan with a credit card

Firefox1975

antrobus wrote: »

The number that appears on a credit or debit card is more than a random string of numbers you know. From the number you can tell whether it's Visa, Mastercard, Amex whatever; you can even tell who issued the card and what kind of card it is. They're called Bank Identification Numbers (BINs). Wikipedia even has a page that lists 'em - http://en.wikipedia.org/wiki/List_of_Issuer_Identification_Numbers - 'though I wouldn't swear that it's completly accurate or even up to date, as usually you have to pay to get that sort of info. However the likes of payday loan company likely does. You quote them a number and they will know what kind of card it is.

Yeah, Understand that, what I was more or less getting at though is "user ignorance" at the other end. i.e you process a debit card the same way you process a Credit card. 9 times out of 10 the processor would not think to question it

Apples2

Johntea wrote: »

Yes you can pay off Wonga with a credit card. Or you used to be able to as I did it myself back in June last year. I remember just setting it up as a 'debit card' and it went through fine.

I would have to repeat the same question posed earlier. Why on earth are you using Payday Loans when you have space on a Credit Card?

I quoted directly from their T&C's earlier where Wonga state you cannot repay a PDL with a Credit Card.

I also agree with the warnings above, Wonga couldn't give a hoot where it comes from, the more cards they have on file the merrier. They will be well placed next time someone in this position fails to repay, wallop, straight into the credit card account for a jolly old cleanout.

It is absolute madness to give a PDL comapny your credit card details, about as mad as taking out a PDL.

KingElvis

I'd tell him to take a long walk off a short pier.

Elvisia

I would imagine it wouldn't be possible, and even if you did it would be a cash advance, which wouldn't be 0%. This is aside from what someone already said which is he wouldn't get one of these cards. He does need to sort it out himself, even if that means you telling a few white lies and saying you can't get a card to get the money from. There are plenty of people on here who have lent money to family members and partners and ended up in terrible situations themselves. Does he have an overdraft he could borrow from at a lower rate?

Wutang_2

KingElvis wrote: »

I'd tell him to take a long walk off a short pier.

:T:T:T:T:T and fall into the sea of hugs and cuddles. be strong Linz.

gb12345

fridayfriday wrote: »

Thank you for providing this post. Although it is possible to pay with a credit card I would not recommend it because you are paying off a credit loan with another form of credit.

Quite simply if you can't afford it don't buy it.

You can almost smell the desparation of a pathetic wannabe spammer building their post count.

AndyJR81

Actually paying off credit with other credit makes perfect sense provided you are switching to lower rates of interest. Virtually anything would be cheaper than trying to repay a PD loan over say 12 months, so either either try to get them to sort a pre default payment plan (have done both with QQ and Wonga in the past) or swap it for something with a less frightening interest rate, credit card, 12 month loan, overdraft or whatever options are.

Ignore the WUM above, that self-satisfied, smug, holier than thou attitude is extremely out of touch with modern society, and smacks of an individual lucky enough to have got themselves on the property ladder before house prices exploded at 4 times the rate of inflation.

Quite simply if you can't say anything constructive, keep your trap shut. This is a non-judgmental forum aimed at helping one another.

Cycrow

Isn't the point that you cant pay credit of with other credit ?
not that its a bad idea, just that its usually not possible to do so

althou not sure why you would dig up an old post to just have a go at all the posters

[Deleted User]

andyjr81 wrote: »

ignore the wum above, that self-satisfied, smug, holier than thou attitude is extremely out of touch with modern society, and smacks of an individual lucky enough to have got themselves on the property ladder before house prices exploded at 4 times the rate of inflation.

andyjr81 wrote: »

this is a non-judgmental forum

.

AndyJR81

Depends on the credit I guess, you might not be able to make a direct CC payment but there are often ways and means, and any other loan even from sub prime lenders is going to be cheaper than Wonga et al. That's a valid point regardless of the age of the post so don't see a problem with adding my thoughts, although to be honest I didn't notice the dates.

As to 'having a go at all the posters', I had a go at one, and given the smarmy unhelpful nature of the comment in question, it was fully deserved.