Pyying debt / Mortagge on 0% CC

scoops82

Sorry - I am new to stoozing .


Can you pay off debt or mortgage payments with a 0% purchases card? My GF is hoping to make a final settlement offer this year but we were hoping on using a 0% purchases card to do this.


Does anyone else make overpayments on mortgagees by stoozing?


Scoops

[Deleted User]

Most will not allow it, unless you are in arrears. You'll need to check with each lender.

scoops82

I thought as much - is that the same for a final settlement of a debt?

[Deleted User]

Assuming if it's one that has defaulted, they're more likely to accept any payment method they can get.

scoops82

But will it count as a purchased and therefore not attract any interest on a 0% purchases card?

[Deleted User]

Good point. Again, it could vary, but it could well be treated as cash.

mrs_T

If you have an offset mortgage you can reduce the interest you pay by keeping stoozed money in the offset savings account.