We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Pay loan with credit card?
Okay just a technicality i want clearing up.
I have a loan with NRAM i'd like to get onto one of my existing credit cards thats offering a decent balance transfer offer for existing customers and i could clear it within the transfer time.
Is it possible to pay off the loan on a different credit card and then transfer from that card?
or do loans have to be paid with debit cards? or would the credit card class it as a cash advance rather than a purchase?
In which case i'll look into the money transfer card offers, just trying to do it without opening another credit card but i can if i have to.
thanks
I have a loan with NRAM i'd like to get onto one of my existing credit cards thats offering a decent balance transfer offer for existing customers and i could clear it within the transfer time.
Is it possible to pay off the loan on a different credit card and then transfer from that card?
or do loans have to be paid with debit cards? or would the credit card class it as a cash advance rather than a purchase?
In which case i'll look into the money transfer card offers, just trying to do it without opening another credit card but i can if i have to.
thanks
if i had known then what i know now
0
Comments
-
You'll need a money transfer option if you're planning on using a credit card.0
-
Deleted_User wrote: »You'll need a money transfer option if you're planning on using a credit card.
so its not possible at all to directly pay off a loan with a credit card?
Has to be transferred to an account and paid with a Debit card?if i had known then what i know now0 -
Very few lenders accept credit cards, or treat them as a purchase if they do.
No harm in asking NRAM, but I'm not sure I'd risk it even if they said yes.0 -
In which case i'll look into the money transfer card offers, just trying to do it without opening another credit card but i can if i have to.
thanks
Before opening another credit card. Check if your existing credit card provider offers money transfer deals? Many do. Barclaycard gives me a new BT and MT offer every month.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards