Using 0% on purchases to pay off loan?

dean_brfc

I'm wondering if there is a way of using a credit card with 0% on purchases (specifically the Nationwide one which has 0% for 15 months) to pay off a loan that I have with Zopa.

Unfortunately Zopa don't let you overpay by card, only direct debit. So I'm wondering if there is any way I could use the credit card to 'purchase' something and make the payment to my Paypal account (although obviously no purchase would take place!), then transfer that to my bank and pay off the loan.

I guess the question comes down to what counts as a 'purchase' under the terms of the card...

Spreading the payments out over 15 months at 0% would save me a few hundred quid though.

MallyGirl

Stoozing is an option - just put absolutely all purchases on the 0% card and use the liberated bank account funds to overpay Zopa. Must be sure you can pay off at the end of the 0% period though

Cycrow

You could use it to purchase things you would normally pay for from your bank account, but put it on the card instead. Leaving that money available to pay towards the loan

dean_brfc

Hadn't considered that line of thinking, thanks. I guess the issue with that is that I'm not sure I could get the funds to pay off the loan without using some of the credit card balance.

Is the Paypal thing a non-starter then? I remember doing something similar to get money from the card without incurring cash withdrawal fees.