Question about a post I just saw...

I just read somebody mentioned they transferred their car loan to a credit card.

How is this done? My hubby has no credit cards and our car loan is in my name with 2 years to go.

Could we just transfer this to a card in his name with lower interest?

Apologies if this is not the correct forum....
New year, no debt! Debt free date - 02/01/07 :j :j :j :D

Comments

  • Murtle
    Murtle Posts: 4,154 Forumite
    First Post First Anniversary Combo Breaker
    Hello again!!!! I'm not following you, honest!!!

    I would say the best (only???!!) way it could be done would be with a SBT (super balanc transfer) these are the ones where you can transfer cash into your bank account and then use this to pay off your car loan...assuming you won't incur more charges for doing that!!!! This is NOT the same as taking cash out on your credit card...if you do that you might as well emigrate for the charges they incur!!!!

    Hope that makes sense??!!!
  • Alfietinker
    Alfietinker Posts: 562 Forumite
    Debt-free and Proud!
    Hee hee! You follow me all you like! ;)

    Ah, I see now. You can tell I'm a newbie can't you!...

    Thanks for all the advice. :)
    New year, no debt! Debt free date - 02/01/07 :j :j :j :D
  • Murtle
    Murtle Posts: 4,154 Forumite
    First Post First Anniversary Combo Breaker
    Hee hee! You follow me all you like! ;)

    Ah, I see now. You can tell I'm a newbie can't you!...

    Thanks for all the advice. :)


    :rotfl: Congratulations for joining the merry gang and welcome!!!!

    There's so much info on all the boards!!!!
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