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Early Repayment
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I have a loan with M & S. Can I repay it early using my LLoyds TSB credit card then balance transfering onto a card with 0% for transfers?
If your Lloyds TSB allows money transfers, yes you can do that. You'll be paying a fee for the money transfer and then another fee for the balance transfer, so you need to do the maths.0 -
You should also read the terms and conditions of your loan, to see if you will face early repayment fees or suchlike. Most personal loans have front-loaded interest, so the savings to be had in transferring it over are small. Calculate your transfer fees etc carefully, to see if it will genuinely help you save money.
Good luckSome days, it's just not worth chewing through the leather straps....
LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!
May grocery challenge £45.61/£1200
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