Converting a Credit card balance to loan

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within29

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I'm not sure if this is possible but I'll put it out there.

Partner has 2 credit cards one with Halifax & one with MBNA.
Like a lot of people I loathe MBNA. I want to get rid of the MBNA but cant get a loan.
I was told that it was in one of the Sunday papers - could have been the Post - that Halifax are considering converting those CC bal to standard loans.
If that is the case would the bal of the MBNA be able to be consolidated with Halifax one.
Just a thought.
 
If that is the case would the bal of the MBNA be able to be consolidated with Halifax one.
Click to expand...

No this won't be possible, in effect you would be asking Halifax to provide a new loan facility but they are closed for new business.Only o/s balances on CC that customers are unable to move to a new CC provider will become personal loans.
 
What about if you withdraw the cash from an ATM using the Halifax Card & pay MBNA off that way.

Please excuse me I'm grasping at straws at this stage
 
If you have sufficient credit available on your Halifax card at present then yes you can increase your halifax credit card bill by with drawing funds from it and repay MBNA.

You will incur cash advance fee's for doing so and there is likely to be a limit to the amount you can withdraw meaning you may need to do a few cash advances each incurruing a charge.

Maybe if you give details of the credit limit of each card and amounts owed it would help answer your query.
 
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