CC to pay off bank loan

p00

I have a bank loan of £6362.

Is there a credit card that I can pay it off with. the bank are telling me that it would be classed as a cash advance or a cheque so there is no way I can get this over to a 0% deal at all. I'm currently paying 6.8% on the loan.

Or is there a bank account offering low rates that I could transfer the debt to?

Thanks for your help

p

CLAPTON

It is possible to transfer debts from loans to credit cards

whether it makes financial sense depends upon your circumstances

how much can you pay off each month?

King_Weasel

You could apply for a credit card with 0% on purchases. So long as you use the amount saved to pay off your debt.

And some 0% credit cards DO allow you to bt from your bank account. (Why should your bank tell you about these?)

No guarantee you will get these cards, of course - depends how they judge your default risk.

p00

CLAPTON wrote: »

It is possible to transfer debts from loans to credit cards

whether it makes financial sense depends upon your circumstances

how much can you pay off each month?

I could pay the min then probably pay it off at the end of the period if it was 13/15 months 0%. I'm in the 'I've got some savings and a loan' syndrome, but not enough to pay it off yet unless I empty my ISA.

x
p

CLAPTON

basicaly the MBNA stable of CCs and eggmoney allow BT from your current a/c which you can then use to pay off the loan.