Is this a sensible way to pay off SL early using a credit card?

j813ys Forumite Posts: 5
First Anniversary First Post
I have around 5K left to pay and i am aiming to pay it off in 1.5 years, with the interest rates going up this will amount to around £300-400 in interest i think.

Is it sensible to pay off with a credit card, and then get another credit card to do a balance transfer for 2 years at 0%

Seems too simple, is there a downside to this?

Side note - Fixed mortgage rate term expires in 1 year.


  • silvercar
    silvercar Forumite, Ambassador Posts: 45,886
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Only downsides I can see is if you need the money for something else, you won't get it back or if your circumstances change and you wouldn't have needed to pay it.
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