Using a credit card to repay Postgrad loan from Barclays

Guswin

Hi there,

This is my first time posting so please bear with me if I'm in the wrong forum! Anyway, I was hoping for some advice with regards to repaying my postgrad loan. Basically I am due to start repaying my Barclays Professional Career Development Loan this December, at just over £250 a month for 24 months.

My question is, is it possible for me to use a credit card to pay off the loan in full, or at least as much of it as possible, so that my monthly repayments are less and therefore more manageable?

If so, how would that work exactly? Sorry, I feel so ignorant to all of this!...Hypothetically, if I had a credit card with a limit of £6000, could I max that and pay my loan off in full in one go, and then simply make monthly repayments on the card? Also, if it is 0% for say 2 years, would that mean I wouldn't have to pay anything off the card for 2 years, or does it simply mean I wouldn't be incurring interest on the £2000 for 2 years?

I hope this makes sense...I find it all so confusing!

Thank you in advance

[Deleted User]

You'll need a money transfer card.

You would still need to make at least minimum payments every month.

Guswin

Thank you! It's very much appreciated

maxximus75

Remember with money transfer cards there is usually around a 4% fee with each month transfer (or whatever your provider is going to charge). These fee's are only usually for a set period of time from opening the card say within the first 60 days.


Fee's after this period can sky rocket.

Guswin

Ohh thank you. I'll keep it in mind!