Can I Transfer My Personal Loan To A Credit Card
Well at least in some cases.
Can i transfer my personal loan to a credit card. Credit card companies often provide debtors with balance transfer checks that work like ordinary bank checks. The big catch however is your credit card options not many issuers allow transfer of personal loan debt. If you d rather keep things simple buckle down and concentrate on paying the loan the old fashioned way.
The name for your credit card and balance transfer debt must match. Yes a credit card can pay off a personal loan. You can t transfer a balance from one citi card to another for example or from a wells fargo personal loan to a wells fargo.
You can use a credit card to pay off a personal loan advised personal finance writer and credit card expert ben luthi. No credit card issuer lets you transfer debts among its own products. Some credit card issuers will allow you to do it directly through your online account like any other balance transfer.
You can certainly move your personal loan balance to a credit card. A balance transfer is another way to consolidate your credit card debt. With this strategy you move one or more credit card balances onto another credit card with a 0 introductory apr.
As for making your loan payments with a credit card the odds of your lender allowing card payments on a personal loan are slim. You can transfer your personal loan to a credit card via a balance transfer. Citi may also refuse to process a balance transfer request when it is from another citigroup account.
Make sure the debt is in your name. For example you can t transfer a citi personal loan debt to a citi credit card. The balance transfer can save you money and pay off your loan but only if you have a repayment plan that you stick to.
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