Paying off loan with Credit card - help please

Tim1011

Hello, First time poster - apologies if I'm in the wrong place.

I'm looking at getting a credit card to pay off the rest of a high interest loan. I have been pre approved by MBNA but i am worried the credit limit wont be high enough and it will affect my credit score. i'm looking to get a mortgage after it is paid off so the credit score is a bit worrying having an open card. What limit can i expect? Im 22 and earn just under 22k if that helps. My credit score is classed as Good/bordeline excellent on Experian, Low good on Clearscore and medium good on Noddle.

I would be grateful for any advice or suggestions on what to do or the best cards etc.

Thankyou

Willing2Learn

Hi Tim1011 and welcome to the forum

Make sure you are applying for a money transfer card (with a 0% promotion plus fees) if you want to use it to pay off the loan.

https://www.moneysavingexpert.com/credit-cards/money-transfers/

Edit: And ignore your credit scores. Lenders neither see it or use it. A lender scores you against their independent criteria and policies using the data held in your credit file, added to the data you submit in an application for credit.

[Deleted User]

You need a Money Transfer card to pay a loan - not a purchase or balance transfer card.

No one knows what limit you get until you apply.

How soon are you looking to apply for a mortgage?

Ignore you score/rating as it's made up.

Terry_Towelling

If you aren't looking to get a mortgage until after you've cleared the debt (which you have suggested) then I suspect having an empty CC at that point will not be too much of a hindrance.