Boyfriends balance transfer to my NW loan

tink1980

Hi everyone,

So i'm in a bit of a muddle. I did the whole balance transfer mess years ago and in the end got a Nationwide loan to consolidate 3 yrs ago.

I've safely been paying this off at 7.2 % at £113 a month.

My loan has gone from £7000 down to £2450.

I tried to get a Nationwide 0% credit card to pay off this last remaining bit of my loan. I got refused!! so i tried Halifax and got refused also. Which is crazy as when i got my loan, i was told I had the best credit she'd seen in ages. I haven't missed any payments either.

Anyways, my partner said he'd get a 0% interest credit card for me and pay off my loan. He just got a Nationwide one, he has transferred the money to his own Halifax credit card....but my question is how do i get the funds from his credit card to pay off my loan?

any help much appreciated...determined to get rid of this last bit, i can't wait for the day when i won't have this loan.

x

smithers1981

Depends on credit card most don't allow you to pay off a loan, 7.2% is not a bad rate and you only have 2 years to go so i would just keep paying as you are until loan is complete.

tink1980

Thing is he already rushed out and did it. The money is on its way to his Halifax credit card in the next few days....can we stop it?

The only other thing i was thinking is that i have a regular flex account which is overdrawn, can you balance transfer £2450 to a regular bank account that's £2000 overdrawn?

thanks

molerat

Not usually. You need a card that will do "super balance transfers" which means to other than another card. Very few do, mainly MBNA.

CLAPTON

tink1980 wrote: »

Thing is he already rushed out and did it. The money is on its way to his Halifax credit card in the next few days....can we stop it?

The only other thing i was thinking is that i have a regular flex account which is overdrawn, can you balance transfer £2450 to a regular bank account that's £2000 overdrawn?

thanks

if you are 2000 overdrawn then many lenders will see you as some-one living beyond your means and not some-one with a perfect credit record

Eonel

tink1980 wrote: »

The only other thing i was thinking is that i have a regular flex account which is overdrawn, can you balance transfer £2450 to a regular bank account that's £2000 overdrawn?

thanks

Yes you can. As long as the current £2450 balance is within your overdraft limit you should have no problem.