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Pay a personal loan off with a credit card?


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2009-06-22 17:28:43
2009-06-22 17:28:43

All you can know about personal loan from this site. It will help you a lot as it helped me.


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Only a few payday loan companies allow you to pay off your loan with a credit card. Most required payment of the loan with a debit card or check.

If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.

It doesn't hurt your credit to pay off a loan early.

No, you cannot. They will not allow you to pay it off with a credit card.

AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history

Not directly, but you can take a cash advance from a credit card to pay off the loan. However, that probably is a bad idea, since the cash advance charge and the credit card interest most likely would exceed what you owe for the loan.

One can get a easy personal loan by having excellent credit. Excellent credit allows banks to trust you and they know you will pay them back, so have good credit to get a loan.

The danger of taking out a loan to pay down credit card debt is that one may then be inclined to borrow more on the credit card. However, if the loan is at a lower interest rate than that on the credit card debt, and more debt is not incurred, it would be a good idea.

No. No money means you can not pay for it . A credit card is a loan from a bank with a high interest rate.

PAY YOUR F-ING BILLS! If you have no credit>> Get a credit card, car loan, or any type on loan AND PAY IT! coming from a person w/ an 798 score!

Get a credit card, small loan, car loan... You need to get something that reports to the credit beauros. They will decide when you pay or dont pay to give you a score.

I doubt it ! Banks will rarely loan a customer money to pay of their own credit card ! An application is likely to flag you up as a bad debtor !

The interest rate you will pay will be a function of the following:The type of debt (mortgage, credit card)Your credit ratingThe term of the debtIn this regard, credit card interest is usually one of the worst. If you are going to have an unpaid balamnce, you are probably better off with a personal loan.

Credit card companies have different requirements and qualifications. If you don't have enough proof that you can pay any loan that you will make through your credit card, your application will not be granted.

No, it is more like a loan from the card's dealer. You then create debt on your credit card if you buy things with it. Then you have to pay back the debt to the card manufacturer.

If you have a large amount of credit card debt, taking out a personal loan to pay it off may seem like an appealing idea. There are some serious considerations that you should think about before making a decision like this. First, make sure that the interest rate on your loan will be lower than what you are currently paying on your credit card so that you'll realize savings as you pay off your debt. Even more importantly, if you plan to take out a second loan to pay off existing debt you must be willing to stop using your credit card or you'll only end up with a larger amount of debt than what you started with.

A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.

I don't have an exact answer but for sure Chase and Capital One don't take credit cards. You can use credit card checks but no direct debit from credit card.

It is called Refinance loan, but this is not a loan type this is just a term used to pay existing loan by taking a new loan. Otherwise it is only a personal loan.If you want to pay your credit card loans, which interest rates are generally very high as compared to personal then this would be a good decision.If you are planning to take a personal loan, Gosahi com is the best place to get it. Visit gosahi submit your details and you will be welcomed with quotes from major bank, select your best option and the loan process initiates. It's as simple as that.

Pay bills ontime, stay below 50% of your credit limits, have a good mixture of credit (Mortgage, Credit Card, and an Installement Loan), and always pay your bills.

There are a lot of sites offering advice on this topic. The first one I found is here:

A credit card is like a portable loan, where the money you spend isn't yours and you have to pay it back. A direct debit card is your money from an account.

because a credit card purchase is a loan, a promise to pay back in the future. it does not fall under the definitions of money (m1,2,3)

It is a loan based upon your signature and good faith, with good credit history, and a job, that you pay back

If you have a prepaid visa card with money in it, you certainly shouldn't need a pay day loan. Most pay day loan arrangements require a person to write a personal check. The pay day loan place cashes the check on your payday.

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