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Swapping credit limit for loan - possible?
jay_w_uk
Posts: 57 Forumite
in Credit cards
Barclaycard have over the years increased a credit limit on one of my cards - to the point where I have around 6k available!
Is it possible to ring Barclaycard and ask them to 'swap' this for a 6k loan?
Balance transfer deals mean I wont lose out if not (6.9% for life of balance I think), but the 2.5% min. payment makes a loan more attractive.
Is it possible to ring Barclaycard and ask them to 'swap' this for a 6k loan?
Balance transfer deals mean I wont lose out if not (6.9% for life of balance I think), but the 2.5% min. payment makes a loan more attractive.
0
Comments
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I don't think Barclaycard will simply swap your Credit Card debt for a loan.
However, nothing stopping you taking out a loan separately and using it to pay off your Credit Card.
But I would point out that 6.9% is a good rate for Life of Balance and I doubt you will get a loan with a rate as low as this.0
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