can i pay off a loan on a credit card?

gazleeds

Hi, i have around 1600 left to pay on a personal loan, with interest its around 2000, can i get a credit card to pay off this loan and take advantage of free BT etc to save on the ineterst of loan?? iv never had a credit card before so any advice would be appreciated or should i jsut bite the bullett and keep paying loan?? cheers in advance

zippybungle

I guess you could use a 'Credit Card' cheque.
I have a Credit Card with Virgin and they are always sending me Credit Card cheques, but I have never used them to be honest, I think there is some sort of fee if you use the Credit Card cheques.
Sorry to be so vague! :rolleyes:

Zippy x

CLAPTON

if you have never had a credit card then its very unlikely you will be given a 0% BT card.. they go to people with excellent credit ratings and at least one existing card.
you normally can't pay a loan offf with a CC but some cards , MBNA and eggmoney allow BTs to your current a/c (hence you can pay off the loan).

nwlondon

gazleeds

STOP

DO NOT GET A "CREDIT CARD" no matter what they say or you think they are "DEBT CARDS" just you read a few "rob peter to pay paul" stories of people on this forum on thier knees with the burden of "credit card" debt.

Do not be one of them save your well being and find another way to pay please.

You will still wake up in the morning still laugh and have fun and live a full and wonderful life. But If you want some free advise from someone who has "been their seen it wore the T shirt" Dont do it.

Your health is more important than any "credit card"

dhassen

If you get an MBNA card with 0% on balance transfers, you can do a balance transfer to your current account and pay off the loan. You'll have to pay a fee, normally around 3%, and make sure you DONT SPEND ON THE CARD AT ALL after you've transferred the balance. If you pay off the credit card before the 0% ends, you'll have saved a fair bit of money