balance transfers

mrspaddy

Hi there, I currently have a £7000 pound loan over 41 months paying 5% interest.
I am now wondering if it would be best putting this on an interest free credit card. I have seen Barclays do 0% over 31 mths.
I have two questions is this a better option secondly can I do a balance transfer on this loan as it's a bank loan and not on a credit card.

Thanks

Wammer

If you can pay it off earlier you might be better with the Nationwide Balance Transfer card as the fee is only 0.75% compared to 2.99% for Barclaycard.

Your problem may be getting a high enough limit to cover the loan, but you may get a lower limit to cover some of it. However you would need to check the T&Cs of the loan regarding early payment.

I think you can transfer a bank loan to a credit card, but read the T&Cs of the card you are considering.

[Deleted User]

You can't BT a loan. You would need a money transfer card deal to pay off the loan - look at MBNA cards.