Visa and Mastercards

Can you transfer your car payment to an interest free credit card?

If you can then what happens to the interest you are supposed to pay for the remainder of your term? My term ends in April 2009. If i transfer it to a credit card does that eliminate all that interest until then? That cant be right can it?

Public Comments

1. You can't 'transfer' it, but you can pay the car payment (s) with the credit card. You won't be eliminating any interest on your car payment since that is built into the monthly premium. You just won't be paying interest on the balance on the credit card until the 'interest free' term is up.
2. No, you cant do that with a car payment in most cases....
3. For this to work you will need to contact your lender and request a payoff amount. This will be the amount that you will need to write a check from your credit card company for to the lender. At that point (if your credit card allows it) you will then be paying your interest free credit card every month instead of your lender.