I have a problem...

scorscribler

Hi everyone, I usually read through here alot, but post less often. I have a slight problem that I was wondering if you guys could help me with. I'll start at the begining!

I have a current account with HSBC, though decided to transfer to A&L recently. I have a £1000 overdraft with HSBC, which they've decided to start charging me for (ex-student). So i thought i'd move it all to a&l while i clear everything up. A&L gave me £600.

Along side this i have been clearing £4,300 of CC debt since xmas, which is now down to £1,200. when i spoke to hsbc about the overdraft charges, they told me it would be a small charge each month, pence, practically nothing. So, stupidly I thought, well sod it then, i'll use the new £600 A&L overdraft to reduce my CC debt saving me money.

I've just got the first overdraft charge through, and its a hell of a lot bigger than first expected! and the overdraft is now costing me more than having the same debt on CC's!! has anyone got any ideas of where i can shift at least £600 of the hsbc overdraft to, to save me some money?? I have CC checks from another card, but would prefer not to use them!! I have a week to get this sorted really...

any help is very much appreciated.

LilacPixie

Myonly thought would be asking A&L to increase you o/d with them.

Bargainfinder_3

Can you put it back on your cc, as you would have had the debt on there anyway - or will this incur more interest charges for you?? I'm sure others will be able to give better advice:) All the best x

embarrassed_about_my_debt

Who is your credit card with?

If it is with MBNA phone them and tell them your thinking about leaving them and going elsewhere, is there anything they will offer you to stay i.e a 0% balance transfer. Mbna let you transfer straight into a bank account.

I have an offer until the middle of september that means anything transfered is 0% til April 09.

Even if its not MBNA its worth a try phoning them and asking them the same question!

beer_tins

A&L should match the OD limit of your old account, but may ask you to send proof of it (e.g. a bank statement with the limit on).

scorscribler

i tried to extend my od with a&l, but can't, as they need a statement no more than 3 months old showing my hsbc account with at least 2 days in credit over the month. For the last 3 months as soon as money has come in bills have been paid straight away! so i'm straight back into the od!!!

I think i'm just going to hae to grin and pay it off as soon as possible...

i hate banks!

Buffythedebtslayer

I 'd look for a 0% deal? (like EAMD said)

It would mean you would be shot of HSBC?

and perhaps you could move all the debt to 0%?

xx