Paying off a personal loan with a 0% credit card?

edu_j asked:


I have a personal loan of £4000 with my bank which i want to pay off with a 0% credit card. How will this transaction come out in my card, as a cash advance or just like any purchase? I know interest will be applied if it will come out as cash advance. Im doing this so i can settle early and apply for a bigger loan. I will pay off the card with the money ill get. Is this possible?tnx

Caffeinated Content for WordPress

Tags: Cash Advance, Personal Credit, Tnx

This entry was posted on Wednesday, May 27th, 2009 at 3:57 pm and is filed under Personal Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “Paying off a personal loan with a 0% credit card?”

1. Mister S Says:
   May 28th, 2009 at 6:42 am

   Caffeinated Content

   That is exactly how the game is played.

2. N K Says:
   May 29th, 2009 at 6:59 pm

   Caffeinated Content

   Ask your bank how the 0% is calcualted. Sometimes they say purchases, sometimes cash advance. A lot of them will give you cheques to write. Know EXCATLY what 0% means! 0% on purchases, life of the loan, cash advance, balance transfers, what??? Talk to your bank and explore and exhaust every option. Ask them what 0% means. Many a times its 0% APR for 12 months on “purchases” and 20% APR on cash advances! Know that!!!!

3. Maria D Says:
   May 31st, 2009 at 3:30 am

   Caffeinated Content

   you can better try this to get some useful links. It will help you a lot as it helped me.
   All the best…