A balance transfer question, possibly stoozing?

Jami74

I've read the article on stoozing and have a question about the egg card bit.

Is this bit really necessary? I woudn't be putting the credit card money into a savings account, I'd be using it to pay off my overdraft so could I just transfer the money straight into my current account or would this somehow incur me extra charges?

It wouldn't pay off all the overdraft but would help ease the interest charges on it.

I'm a bit nervous about the whole credit card thing because I've never had one and I'd rather have as few cards/accounts as possible until I get a bit more confident.

Thanks for any advice.

rodent

If card has SBT facilty then yes straight to bank acc.....A lot of card providers wont allow this and treat it as a cash withdrawl (which IS very expensive) so with these card accs just tx to egg money (as another card acc) egg money will allow tx to current acc of +ve funds with no fee..

Got it !!?

The Rodent

Haycorns_2

However, you need to make sure you have the money to pay it back at the end of a 0%. Be careful that the bank does not reduce your overdraft facility and you can't get it back out.