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Loan with balance transfer
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Kirstymc89
Posts: 10 Forumite
in Loans
Hi Everyone just wondering I’m just about apply for a loan ( for my car) phoned bank ( doesn’t seem there will be an issue with it) but noticed my credit card is now charging interest so wanted to apply to do a balance transfer to a different credit card! Does anyone know would this effect me getting my loan or loan application? Just before I apply for the new credit card! I can wait until the loan is completed but would rather save myself the interest fee! Thanks in advance
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Comments
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Any new searches and credit will impact the assessment of a subsequent credit application.
But carrying interest bearing debt will reduce the chances of you getting the loan.
It sounds as if now is a good time to review your finances as a whole, before adding to your debt.0
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