We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
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
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards