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Paying off a loan with a credit card

t_butler · 2014-07-29 21:32:12

Hi, I have a couple of grand left on a loan with Hitachi Personal Finance. I have also just applied for a Tesco credit card with 0% on new purchases for 19 months, and been accepted. The credit limit on the new card is greater than the remaining balance of my loan. On the Hitachi website, it says that you can make payments…

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MrJester Posts: 1,015 Forumite

21 September 2014 at 2:40PM

You can pay off the full loan with a credit card and accept the 2.5% fee. Whether or not your card provider constitutes this as a cash advance, or a purchase, is another matter so you should enquire with CC before doing this.

But Hitachi will let you pay it off with a CC, and recalculate any interest up to the day you made full payment.

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Paying off a loan with a credit card

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