Can you use a credit card to transfer the balance of a finance loan?

JG85UK

Hi,

We have just agreed to have some new windows and doors fitted and we will be using the Barclays finance package which was offered to us by the window company. If we were to just pay off the minimum each month it would take us 10 years to pay off!!

I wondered if it would be possible to get a credit card with an interest free period to transfer the balance over to save us paying the interest for 18 months or so.

My question is: Can you use interest free credit cards to make balance transfers against finance loans, or is it just for clearing other credit cards and store cards? I understand that there is often a balance transfer fee of around 3%.

Any help would be much appreciated.

All the best

James

stephane_2

You would need a card which allow balance transfer to a current account like MBNA/Virgin....and then check if the finance company will allow early repayment & what sort of fees that they may charge you.

InsideInsurance

Only the minority of cards will allow you to transfer to something that isnt another card and most are issued by MBNA. See http://www.stoozing.com/sbt.php

JG85UK

Great, thanks guys! This is just what I needed!

All the best