Transferring loan to 0% credit card

smudge_don

I've got £8,000 left on a loan which I want to switch to a 0% credit card.

I first assumed this would be as simple as a balance transfer but doing some research brings up different answers.

Would it be classed as a balance transfer, purchase or money transfer to my bank account and then pay off the loan?

Was looking at the Virgin card with 25months 0% for balance transfers, purchases and money transfers

Dobbibill

It would be a money transfer.
This allows you to transfer money to your current account and then in turn pay off the loan.

A balance transfer is from one card to another, so not suitable for this purpose.

Ben8282

Of course, with £8000 outstanding on a loan you may not actually be able to get a 0% card.
It will have to be a money transfer into your bank account which you must then use to pay the loan. A balance transfer to a loan account is not possible.