super balance transfers exceed overdraft

monkeysnail

Hi there. I know that you can transfer the balance of SBT cards to your current account. BUt is it possible for example, your overdraft is only £500 but your SBT Credit card is £4000. Could you do a balance transfer of the entire £4000 even if your Overdraft is only £500?

Rafter

Certainly is.

Your credit card company has no idea what your overdraft limit is.

This is the technique used for 'stoozing'. You transfer the full SBT Card limit across, pay off any overdraft and then put the surplus into a savings account earning interest until the end of the zero% deal, then transfer the money back to pay off the credit card or take out another 0% card and simply move the money along.

Just make sure you don't spend the money because you will have to pay it back eventually.

R.