Paying off a loan with a card - newbie question

shrub100

Apologies if this has been asked a million times before, but I ran some searches on the forum and couldn't find the answer I needed.

Here's the situation:

I have a 5 month old loan for my motorbike which has an outstanding balance of £4100. I am now in a position where I can now pay off the entire outstanding balance but am wondering whether I should.

Having read a couple of articles I was wondering whether it might be worth paying the loan with a 0% interest credit card and earning interest on the £4000 for a year? I am good with my money and trust myself to keep the money saved and to pay off the card at the right time.

I therefore have two questions:

1. Is this a good idea/has anyone done it?
2. Would this count as a balance transfer or purchase on a credit card?
3. In light of the credit crunch do you think that I will get a decent sized credit limit to do this? (My only other card has £5000 credit, and I pay the balance in full every month)
4. Would there be any impact on my credit score long term if everything went to plan?

Thanks for your help,

Jon

PS - I'm not a home owner and my credit rating is fair.

CLAPTON

treat as two issues:

pay off the loan with your cash.

if you want to stooz then treat that as a separate exercise try reading https://www.stoozing.com