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Loan repayment & Credit Card
testyfly
Posts: 1 Newbie
in Credit cards
I currently have a personal loan with a bank with an outstanding balance around £1600.00 at an interest rate of around 8%.
My question is; would it be advisable to clear the loan with my current Credit card and then get a new Credit Card with a 0% Transfer rate and then pay it off at my current payment rate.
My thinking is I could save the interest to the bank and clear the debt sooner.
My question is; would it be advisable to clear the loan with my current Credit card and then get a new Credit Card with a 0% Transfer rate and then pay it off at my current payment rate.
My thinking is I could save the interest to the bank and clear the debt sooner.
0
Comments
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You probably can't pay it directly with the card.
Look for a money transfer option, but do the maths on the savings.0
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