pay loan with credit card?

emmalita

Hi, I have recentley purchased windows with safestyle financed by Hitachi Capital. The full price is £5250 @ £104.47 per month over 96 months. This would mean total paid over £9000! I think the apr is 11%. The first payment is due beginning of october and i have £1000 to pay of straightaway without penalty. Now the question is would I be able to pay this loan of with a new tesco credit card - 0% for 16 months on new purchases? Is a loan settlement classes as a new purchase? Thankyou.

somethingcorporate

No, I very much doubt it. Tesco will be able to clarify.

It may be treated as a balance transfer so a 0% on balance transfers may be an option but you would also need to clarify.

As a final resort, super-balance transfer cards (such as Virgin) may allow you to deposit the cash in your current account (for a small fee) and pay it off from there.

jonesMUFCforever

The only problem I see is that the loan company will not tak a credit card payment - so again IMO you need to apply for a card that will transfer the cash to your current account for you to pay off the loan.