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  • FIRST POST
    • diz79
    • By diz79 11th Mar 17, 1:44 PM
    • 140Posts
    • 0Thanks
    diz79
    Understanding Credit cards
    • #1
    • 11th Mar 17, 1:44 PM
    Understanding Credit cards 11th Mar 17 at 1:44 PM
    Hi there

    I curently have two overdrafts one is at £1200, the other at £675. Im looking to clear these using the below credit card but just have a few questions as I havent owned a c card for a long time and ive nver tried to move debt.

    http://www.hotukdeals.com/deals/0-for-28-months-balance-transfer-credit-card-with-no-balance-transfer-fee-longest-2625379?page=2#comments

    I applied but they only offered me 28.9% variable even though it advertised as 18% can I ask them to change it? And does this charge really matter?

    Will i get any charges for clearing overdraft to credit card and is it allowed?

    If I pay the debt off within the period will i get no charges?

    Finally can I pay it of quicker if needs be?

    Many thanks
Page 1
    • YorkshireBoy
    • By YorkshireBoy 11th Mar 17, 2:13 PM
    • 29,326 Posts
    • 17,099 Thanks
    YorkshireBoy
    • #2
    • 11th Mar 17, 2:13 PM
    • #2
    • 11th Mar 17, 2:13 PM
    Oh dear! That card is useless for your intended purpose, being as it doesn't offer money transfers. Nor does it have a long 0% on purchases duration, which might enable you to spend your way out of the overdraft.


    Back to the drawing board. Check out MBNA's range of 0% money transfer cards.
    • diz79
    • By diz79 11th Mar 17, 4:43 PM
    • 140 Posts
    • 0 Thanks
    diz79
    • #3
    • 11th Mar 17, 4:43 PM
    • #3
    • 11th Mar 17, 4:43 PM
    OK thanks a lot
    • diz79
    • By diz79 11th Mar 17, 6:19 PM
    • 140 Posts
    • 0 Thanks
    diz79
    • #4
    • 11th Mar 17, 6:19 PM
    • #4
    • 11th Mar 17, 6:19 PM
    Ive found this one can anyone recomend a comparison site or better one?

    https://www.mbna.co.uk/compare-credit-cards/money-transfer-credit-cards/mbna/

    Thanks
    • YorkshireBoy
    • By YorkshireBoy 11th Mar 17, 6:26 PM
    • 29,326 Posts
    • 17,099 Thanks
    YorkshireBoy
    • #5
    • 11th Mar 17, 6:26 PM
    • #5
    • 11th Mar 17, 6:26 PM
    Ive found this one can anyone recomend a comparison site or better one?
    Originally posted by diz79
    Virgin will give you a longer duration for the same fee...

    http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs#lowfee
    • diz79
    • By diz79 11th Mar 17, 7:04 PM
    • 140 Posts
    • 0 Thanks
    diz79
    • #6
    • 11th Mar 17, 7:04 PM
    • #6
    • 11th Mar 17, 7:04 PM
    Is that just one fee at 1.99 or will I get charged twice as two acounts? And is that the only fees?

    Thanks
    • YorkshireBoy
    • By YorkshireBoy 11th Mar 17, 7:34 PM
    • 29,326 Posts
    • 17,099 Thanks
    YorkshireBoy
    • #7
    • 11th Mar 17, 7:34 PM
    • #7
    • 11th Mar 17, 7:34 PM
    Is that just one fee at 1.99 or will I get charged twice as two acounts?
    Originally posted by diz79
    You'll be charged a 1.99% fee for each transfer. But whether you do one at £1,000 or two at £500 the total cost is the same isn't it? Think about it.
    And is that the only fees?
    Why not click the Virgin link within the link I gave you and see?
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