Pay off loan or credit card?! - MoneySavingExpert Forum

4 days ago  · I'd pay off the one with the most interest. So pay off the loan. You can hunt around for another 0% balance transfer CC after your term is up. My partner's been doing it for years …


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Pay Off Loan Or Credit Card?! - MoneySavingExpert Forum

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4 days ago  · I'd pay off the one with the most interest. So pay off the loan. You can hunt around for another 0% balance transfer CC after your term is up. My partner's been doing it for years …

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Pay Off Loan Or Credit Card? — MoneySavingExpert Forum

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Mar 28, 2023  · You'll probably struggle to get a BT rate under the 4.9% for the loan, so I'd be inclined to use the money to clear most of the credit card, and then use the saved repayments …

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Pay Off Loan Or Credit Card? — MoneySavingExpert Forum

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Might be that pay off the CC then if you get a BT deal or a 0% purchase card you can deal with the loan getting that on reduced interest or paid off quicker. 0 This discussion has been closed.

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Pay Off Loan Or Credit Card? — MoneySavingExpert Forum

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Jan 19, 2006  · I have a car loan with about £7000 left to pay including interest which was added up front at 10.6% and a credit card with nearly £7000 owing and interest being added monthly.

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Using A 0% Credit Card To Pay Off A Personal Loan.

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Jan 13, 2025  · A BT card can only be used to transfer a balance from another credit card. It's highly unlikely that the loan provider would accept payment from a "spending" card, but even if …

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To Pay Off Loan Or Not? — MoneySavingExpert Forum

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Jul 21, 2022  · Saving £900 in interest in paying it all off would be a big incentive to get rid of it. Presumably with the loan payments and what you were paying in debt repayments you will …

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Paying Off My Mortgage Using A 0% Credit Card? — …

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Feb 13, 2017  · Hi - advice please. I owe £5100 on my mortgage. I pay 2.89% interest. I am tied in for another 12 months. I pay approx. £490 per month. I would like to clear my mortgage now …

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Am I Trapped In Paydown Plans? — MoneySavingExpert Forum

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3 days ago  · Hello. I'm trying to find a way out of debts of around £3500 (£1000 each on two credit cards) and a £1500 overdraft that I live in for most of each month. I've been reading recently …

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Using 0% Credit Card To Clear A Loan? - MoneySavingExpert Forum

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Dec 13, 2024  · I have 2 loans with one company1 = 8.5% APR2 = 13.3% APR I have an offer on my credit card of 0% but with a 5% fee over 15 months.

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Can You Pay Off Loan With A Credit Card? — MoneySavingExpert …

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Jun 14, 2015  · Yep just realised that i got the wrong card lol but i also have a tesco credit card with around £2000 of debt which im going to transfer to the new card as the 0% tesco card is …

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Loan To Pay Off Credit Cards? — MoneySavingExpert Forum

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Aug 2, 2016  · You would be better off moving the credit cards on to a lower (or 0% deals) and trimming your budget so you can pay off more than the minimum to solve your credit card …

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Should I Pay Off Loan With Credit Card Money Transfer

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Jan 18, 2012  · Here is the overview of my finances: - £0 in savings - I have a personal loan with Tesco with a settlement balance of £3142.08. I pay £254.14/month and the final payment is …

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Loan To Pay Off Credit Card? — MoneySavingExpert Forum

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Aug 18, 2021  · Had to live off the credit card for a few months last year and now got 5k on there @ 18% Looking to get a 5k loan to pay off. I know a loan to pay off a card isn't ideal but there's …

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Pay Off Personal Loan With 0% Credit Card? - MoneySavingExpert …

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Dec 1, 2020  · 1. Balance Transfer the entire credit limit of your Lloyds card (£10000) to your Egg Card. Lloyds Card now £10000 DEBT Egg Card now £10000 CREDIT 2. Now BT £10000 …

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Is It Worth Paying My Mortgage Off Early? - MoneySavingExpert …

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3 days ago  · Hello, I am about to inherit enough money to pay off my £20,600 mortgage, which has a fixed 2.15% deal until 30/04/2027. My mortgage expires in 3 years and 5 months. I have …

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MBNA Personal Loan Management - MoneySavingExpert Forum

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5 days ago  · Hello all, I have a loan term personal loan with MBNA with an outstanding balance amount of £6,700 and 32 months left to complete. i am paying approx £20 each month for …

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When To Use A Personal Loan To Pay Off Credit Card Debt

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Jan 29, 2025  · If you can secure a personal loan for your total of $12,000 in credit card debt with an APR of 10 percent, you will be able to contribute your $200 each month and start paying off …

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Paying Off My £600.00 Credit Card Debt : R/UKPersonalFinance

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Always pay off credit cards in full. Otherwise you will go down a rabbit whole where you spend more on credit card and end up with ever growing debt. When my credit card bill is more than …

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FAQs about Pay off loan or credit card?! - MoneySavingExpert Forum Coupon?

Should I pay off my credit card?

Pay it all off, don't get charged interest on your credit card. Credit card interest is negative savings, simple as that. If the worst comes to the worst, you can bail yourself out with the credit card, so don't kid yourself that you need to keep some savings rather than focus on the credit card debt. ...

When should I pay off my credit card?

Pay off the credit card as soon as possible. If you need an emergency fund, I'd say look at getting a 0% credit card for emergencies while you build up savings. But make sure you pay it off before you start getting charged interest! No point having savings if you have debt. That debt cancels out your savings. ...

Can a Sainsbury's credit card pay off a loan?

into your current account so you can pay off the loan. Sainsbury can't do that - egg credit cards can do, but only 6 months interest free. Thirdly, can you repay you debt to the credit card company over the term of the interest-free period. If not, you will need to look for another 0% deal to enable you to move the debt on to. ...

When should I pay off my debt?

Jeez, with that interest rate pay it off in full if at all possible. If not, try and pay most of it off in Jan then the remainder in Feb. Honestly it depends on what you mean "very little savings". 600 pounds of debt at 20% annual interest rate is 10 pounds a month of interest. If you pay that off it stays stable. ...

Can a Sainsbury's Egg credit card pay off a loan?

You will need to calculate whether you can save more in loan interest over the interest free period than you will pay in early repayment penalties. into your current account so you can pay off the loan. Sainsbury can't do that - egg credit cards can do, but only 6 months interest free. ...

Does paying interest affect your credit score?

Carrying a balance and paying interest doesn't affect your credit score, so don't delay payment or underpay just for that! Good credit score can be achieved just paying bills on time and keeping low credit utilisation (once you're back on track, keep it under 10% of your max credit allowance). ...

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