cahoot loan advice

dip11

Hi everyone,
this is my first time using this forum.
Can anyone give me advice on wahat to do with my cahoot flexible loan account which is currently sitting at around £12,500. At the moment I am only repaying the minimum monthly repayment. I do not use the account and only intend to pay it off in the best way possible, can anyone advise me as to if I should transfer this loan to a cheaper lender or what is the best way to pay it off.

CLAPTON

whats the APR?

If you can refinance it by getting a significantly lower APR loan then that might be a good thing... I dont think that 0% BT CC would work as you probably wouldn't get a sufficiently high creit limit or be able to clear it before the deal run out.
However, it may be worth applying for a low APR LOB CC.

And of course pay off more each month if they allow overpayments and apply them so the overall interest is reduced.