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Pay off loan with credit card
brown1e
Posts: 2 Newbie
As title suggests, can it be done? Would it be stoozing - the free cash would be the saving of cash that would have been paid in interest of the loan? Would it be a balance transfer or a purchase? Could it be a way or reducing debt if the card is 0%?
Open topic for debate - possibly a stupid idea, or genius discovery - or been done before and old news!!
Open topic for debate - possibly a stupid idea, or genius discovery - or been done before and old news!!
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Comments
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Yes...been done before and old news!!
http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs0 -
lol, well, that's cleared that one up - thanks!!
is there a way of deleting the post or is it ok to just leave it hanging??
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'the free cash would be the saving of cash that would have been paid in interest of the loan?'
It's a nice feeling closing a loan early but before you do it's a good idea to check out you aren't going to be stung for the privilege of settling the loan early i.e. an early redemption fee of 1 or 2 times monthly interest added to the settlement figure. It can make a nasty dent in your profit.0
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