can i move a bank loan to a credit card? Help!!!

yummymummy1_2

hiya everyone, just wanted some advice really, i have a loan remaining of 5,700 with lloydstsb and everytime i seem to check it never goes down, im fed with paying such a stupid amount in interested but am scared of moving my loan. i was think an interest free credit card so i could get rid of the bulk of my loan. i am a new mum and would perfer my money to be spent on my family not my over profitted bank. Suggestions all welcome xx

fatbelly

Hi

You'll need to do your sums and research on this. Remember that a 0% deal will be time-limited and have an up-front fee. You may not get a limit of £5700. There may be penalties for early redemption of the loan and part-repayment may not be possible.

Having said all that, have a look at https://www.stoozing.com for the latest deals and look for those cards that permit 'super balance transfers', i.e money goes straight to your current account.

Other things to look at would be 'life of balance' deals and using the egg money card as a mule.

Martin explains this here