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Posted in Auto Loans
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Question By
chevycamarocayden2013

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how could i pay off a loan buy getting a loan through creditkarma to help my credit score?
Capital one loan to pay off a car loan.

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Using a credit card to pay off an auto loan?  Usually the interest rate on the auto loan is lower than the credit card interest rate, so I doubt if this is a good idea.  But, compare the interest rates and don't forget to calculate the balance tranfser fee that the credit card company charges whenever they pay off a loan for you, it could cost you more than you think.

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Nothing actually goes "through" Credit Karma.  This site is free to all who wish to use it and the reason we get this is the advertisers pay the costs of setting up and maintaining this site. Those are the credit cards and loans you see.  You have to take your chances just like the rest of us. "Pyramiding" debts is a bad ides, and that's what you'd be doing if you took out oone loan to pay off another.

Before going that way, pl;ease read the articles here and use the financial tools so you can better learn about credit.  That is the purpose of this site because too few people have even a basic understanding of credit.

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