Balance Transfers on Personal Loans

A question about : Balance Transfers on Personal Loans

Hello all,

I took out a Personal Loan with my bank (Barclays) for Ј5000.
The period was 5 years (60mths)
Paying back roughly Ј7000
APR was ridiculous as I couldn't get approved by other lenders

With total settlement, costs included at around Ј4800.
I was considering loan switch to shift around Ј1700 of the debt.

However it would be with another 5 year loan hence slightly pointless.
So instead what I want to try it clearing the debt on a 0% balance card.

Only problem is I haven't the faintest idea where to start.
Can anyone offer an idiots guide for the idiot?

Kind regards
SinisterDexter

Best answers:

• I've just realised how bad my grammar was in that thread
  :/
• You would have to get a money transfer credit card, which is one that allows you to transfer a certain amount (usually 90%) of the CC limit to your bank account. Then you pay off the loan with this money.
  Will cost you a fee of a few % and be 0% for a certain amount of time.
  https://www.moneysavingexpert.com/loa...verdraft-costs
  have a look here
• you also realise that you need to pay the money off the card before the 0% runs out, or you will be paying an even higher rate of interest than you would be on the loan.