I wanna pay off Nat west loan with credit card

jester212

Rojapo wrote: »

If I'm paying 9% interest on my loan would it be better to pay the 4% fee then have 0% interest whilst paying the card off?
And when the introductory offer ends can I do a balance transfer so I have another 0% period?

What term is your original £3000 loan over? What are you currently paying per month? If you transferred the £3000 and say they charge you 4% fee of a £120, giving a total of £3120, if you get a 27 month 0% rate then you would need to pay around £115 per month to clear the balance before the introductory period ends.

Rojapo

Ive got about 4 years left, I'm paying 100 a month but half of that is interest, at least with the 0% money transfer I'd be paying every penny towards the debt for a few months. Am I right?

Rojapo

Also when the introductory period ends can I do a balance transfer to another 0% deal for what ever is remaining?

jester212

Rojapo wrote: »

Also when the introductory period ends can I do a balance transfer to another 0% deal for what ever is remaining?

In theory yes but if you have 4 years left and you are paying £100, could you afford to pay another £15 per month to clear it in less than 2.5 years? This would be the most sensible and cost effective option.