Balance Transfers I dont currently own a credit card but am considering taking one out... I'm aware you can move debts from 1 store/credit card to another card... But is it is possible to clear overdrafts or other loans with a credit card and then just pay the interest/payments on that instead?! :spangled: (dont have much experience with this sorta thing and i'd like to consolidate 2 debts i have into one...)
The interest on credit cards is far higher than it is on a bank loan so it would be a stupid idea ps in an attempt to stop spiraling debt, companies are now declining around 50% of all credit applications
even if you get these interest rates set for life as long as debts are transfered within 6 months of obtaining the card?
si is talking rubbish. if you can get a 0% credit card for a year and transfer stuff off your store cards etc which are possibly in the region of 25% in makes perfect sense.
Aye.... not store cards tho its an overdraft and possibly a personal loan i wanna shift.... I've been told that you can with come credit cards but others are limited to just transferring balances from similar store/credit cards. Anyone recommend any?
Swana, with some of the credit cards you will get 0% on purchases/cheques as well so I would imagine you could use them to pay off loans etc.
at the end of the day if your thick enough to get a store card in the first place you deserve to be in debt, talk to picture, they might be able to help you.
I dont av any fooking store cards!! lol An overdraft left over from uni.... and small loan i needed to purchase a car (i needed for work) Not like i just gone out and caned £pounds£ on shoppin sprees... I'll av a look on Martins Money tips...
