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Credit cards and Loan
betti911
Posts: 819 Forumite
In the past five months I have been paying off my car loan (min payment £80 aprox) at £200 per month. APR on the loan is 7%. Have got the loan down to £3100.
Was wondering if it would be possible to balance transfer the loan when it reaches £2400 to an interest free credit card to save interest. There are no early redemption charges on the loan. Has anyone done a similar thing? Would that be possible?
Was wondering if it would be possible to balance transfer the loan when it reaches £2400 to an interest free credit card to save interest. There are no early redemption charges on the loan. Has anyone done a similar thing? Would that be possible?
Jan 1st 07 Car loan £4830.46@12% Personal Loan £11,517@8% variable Overdraft £1500 July 2009Halifax-£0Debt free date 14th July 2009 :j
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Comments
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It should be as far as I can tell - although when applying for a card with the BT deal you'd need to check whether it applies to loans as some are only other CC balances. If you could get one with a purchases 0% deal you may be able to phone up & pay it with the card - but again check beforehand whether this would work for you.Total Debt 13th Sept 2006 (exc student loan): £6240.06 :eek:
O/D 1 [strike]£1250 [/strike]O/D 2 [strike]£100[/strike] Next a/c [strike]£313.55[/strike]@ 26.49% Mum [strike]£130[/strike] HSBC [strike]£4446.51[/strike]@15.75%[STRIKE]M&S £580.15@ 4.9%[/STRIKE]
Total Debt 30th April 2008: £0 100% paid off!
PROUD TO [STRIKE]BE DEALING [/STRIKE] HAVE DEALT WITH MY DEBT
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Thanks I will def look into that. Don't want to be paying extra interest.Jan 1st 07 Car loan £4830.46@12% Personal Loan £11,517@8% variable Overdraft £1500 July 2009Halifax-£0Debt free date 14th July 2009 :j0
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