Paying Off Loan With Credit Card

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I currently have an unsecured loan with Nationwide Building Society, which i currently owe £9796.00 until it is paid in full in Nov 2018. I am currently paying £357.59pm. The loan was taken out in Nov 2013 at 7.40%. My question is ,could I repay the loan with a 0% credit card or maybe take out another loan with a lesser percentage rate.

Pixie5740

Generally speaking you can't use credit cards to repay loans. You'd need to find a "money transfer" card which would allow you to transfer the money into your current account which you could then use to pay off your loan. There are money transfer cards offering 0% on transfers from 24 to 36 months but whether or not you'd be eligible for a large enough card balance I do not know. After the introductory period the interest rates would be a lot higher than 7.4% APR.

Yes, you can apply for another loan and use it to repay your Nationwide loan but again I have no idea if you'd be offered a better rate or not.

The MSE website has both a credit card eligibility calculator and a loan eligibility calculator that you could check out.