Can i use a spending credit card to pay off a car loan?

GoldenOldy

Good evening

I have just read the article about spending credit cards and balance transfer cards.
I wondered if someone could explain to me the following please.
I wish to make the end payment on my car which i had intended just putting on my credit card then paying off.
I still wonder though if i could use a 0 per cent spending credit card in order to do so?
could anyone advise please.?
Thankyou kindly

grumpy_codger

You can IF your loan provider accepts CC payments AND processes them as purchases, not as cash-like transactions. Most likely it's NO on both counts.

GoldenOldy said:

...
I have just read the article about spending credit cards and balance transfer cards....

Have you read on Money transfer credit cards ? Unfortunately, very few are available, the fee is about 4% and 0% term is shorter than for many 0% BT and spending cards.

etienneg

No. You cannot use a credit card to pay off existing debt (except, where available, balance transfer from another credit card). So you will have to make your final car payment in another way.