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Jason
Jason
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Using 0% APR credit card(s) to pay off loans to avoid interest

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Jason
Jason
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Not sure if this is possible but it did come to mind out of curiosity sake.

Assuming you have a $10000 loan for example.

You open up a 0% APR card for 15 months with a credit value of $15000 for example. You charge card via PayPal or some other 3rd party way and take the money from yourself to pay off the loan. Your loan is now in a credit card with no APR so you can pay it off without interest.

IS this a viable option?

EDIT: Seeing some talk below brought up this as a side question.

There are cards that offer $0 fees for transferring a balance over. But It thought that was just CC to CC. Can you actually transfer a loan to a credit card?

Not sure if this is possible but it did come to mind out of curiosity sake.

Assuming you have a $10000 loan for example.

You open up a 0% APR card for 15 months with a credit value of $15000 for example. You charge card via PayPal or some other 3rd party way and take the money from yourself to pay off the loan. Your loan is now in a credit card with no APR so you can pay it off without interest.

IS this a viable option?

Not sure if this is possible but it did come to mind out of curiosity sake.

Assuming you have a $10000 loan for example.

You open up a 0% APR card for 15 months with a credit value of $15000 for example. You charge card via PayPal or some other 3rd party way and take the money from yourself to pay off the loan. Your loan is now in a credit card with no APR so you can pay it off without interest.

IS this a viable option?

EDIT: Seeing some talk below brought up this as a side question.

There are cards that offer $0 fees for transferring a balance over. But It thought that was just CC to CC. Can you actually transfer a loan to a credit card?

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Jason
Jason
  • 1.2k
  • 1
  • 10
  • 14

Using credit card(s) to pay off loans to avoid interest

Not sure if this is possible but it did come to mind out of curiosity sake.

Assuming you have a $10000 loan for example.

You open up a 0% APR card for 15 months with a credit value of $15000 for example. You charge card via PayPal or some other 3rd party way and take the money from yourself to pay off the loan. Your loan is now in a credit card with no APR so you can pay it off without interest.

IS this a viable option?