We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Overdraft interest - Can I switch it to cc?
Feanor
Posts: 513 Forumite
Hi all,
I have an overdraft of £1950 from when I was a student. I left two years ago but still dont earn that much so I can really make a dent in it. All of a sudden over the last few months they (halifax) have started charging me £20 a month in interest. Fair enough, I do owe them the money after all.
Anyway, I have a virgin credit card with 2k on it on 0% and I have been concentrating on getting this paid off. It's on 0% until March 09. Is it worth me balance transferring the overdraft to the credit card, so its all in one place and then in March, look for another 0% offer?
If so, how does it work...like now, I have available £1300 out of the £1950 overdraft, so how does the balance transfer work with an overdraft??
Thanks
I have an overdraft of £1950 from when I was a student. I left two years ago but still dont earn that much so I can really make a dent in it. All of a sudden over the last few months they (halifax) have started charging me £20 a month in interest. Fair enough, I do owe them the money after all.
Anyway, I have a virgin credit card with 2k on it on 0% and I have been concentrating on getting this paid off. It's on 0% until March 09. Is it worth me balance transferring the overdraft to the credit card, so its all in one place and then in March, look for another 0% offer?
If so, how does it work...like now, I have available £1300 out of the £1950 overdraft, so how does the balance transfer work with an overdraft??
Thanks
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards