We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Trying to get my personal loan to 0%...
Options

jlrobinson96
Posts: 2 Newbie
in Loans
Hi, I got a £10,500 unsecured personal loan last April on a 60 month term at £189.39 pm / 3.2% APR. I have managed to overpay this loan over 12 months meaning my outstanding amount is now £6000 (Bank hasn’t given me an early settlement figure yet). I want to try and get the loan onto a 0% via credit card - £4000 / cash - £2000 but have noticed all credit cards offer 20+ months Money Transfer at 0% but charge 4% admin to do this!? Any suggestions community?
0
Comments
-
Work out whether it's worth it to pay the fee.
If so, go for it, but get the balance as low as you can by paying the cash off the debt first.0 -
Deleted_User said:Work out whether it's worth it to pay the fee.
If so, go for it, but get the balance as low as you can by paying the cash off the debt first.
1 -
Because the fee is a one off.
The APR is an ongoing rate.1 -
IMO it would be much better to carry on overpaying the loan than trying to get a 0% card at this time.
The loan rate you have is very good - in these Coronavirus times cash is king - make sure you do not leave yourself short of reddies.2
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards