credit card v remortgage

magic_genie

I read above in the offset mortgages post of a man who I quote:

"one other point is i did a super balance transfer on a credit card and the funds are also in the offset account saving me money as i pay 0% on it and keep switching it"

borrowed money on a credit card to put in his current account to reduce payments on his offset mortgage.

I am just about to remortgage my flat in order to release funds (@8k) so that I can buy another house. Now, I'm pretty clued up on most things but not credit cards.

Can you actually borrow money on credit cards, not purchase anything, but borrow money? If so, I wouldn't have to remortgage my flat, I could borrow the 8k I need on a credit card.

Thanks for reading, hope to hear from you
kind regards
Alex

grumbler

magic_genie wrote:

Can you actually borrow money on credit cards, not purchase anything, but borrow money?

Yes, but this is for short-term borrowing. To avoid high interest rate you must switch debt every 6/9/12 months after introductory 0% rate ends.

For more info read articles:
What is a Super Balance Transfer?
Best Balance Transfers (cut the cost of existing credit card debts)

Link to all othe articles - in the green bar above.