Overdrafts

FiLoster

I'm looking to do a balance transfer from my current credit card but was wondering whether it was possible to also transfer an overdraft from a regular bank account to the new credit card. I'm struggling to clear my overdraft and need some way of leaving it and paying it off as you would a credit card. My current credit card is with HSBC and my overdraft is with Halifax. Any ideas?

Thanks, FiLoster

Moggles_2

A few rather special cards will allow you to transfer an overdraft to them, (in other words, transfer cash from the credit card to your current account), at balance transfer rates. You need:

a card issued by MBNA (e.g. Alliance & Leicester, MBNA itself, Sony, Virgin), Egg card or the Post Office card

alternatively, you can use Egg Money (not to be confused with the Egg card) in conjunction with any 0% or low-rate balance transfer card

Mint periodically issues credit card cheques, which can be paid directly into your current account. Unless you already have them, this is the least satisfactory option, as Mint cheques cannot be ordered and you never know when the next ones will turn up in the post.

Which of the above is best depends, to some extent, on which cards - besides HSBC - you have at the mo. To maximise the 0% period, 15 months is currently available to new customers from Virgin. There's a 2.98% handling charge. Alternatively, you'd get almost 13 months with Egg. A 3 % BT fee applies