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Credit card v overdraft
LS88
Posts: 2 Newbie
in Credit cards
Hi,
I have an o/s balance of £ 2500 on my credit card and I wondered if it's better to pay it off with my overdraft.
Can anyone advice please?
LS
I have an o/s balance of £ 2500 on my credit card and I wondered if it's better to pay it off with my overdraft.
Can anyone advice please?
LS
0
Comments
-
What are the rates of interest on each debt ?
Generally speaking you are best to move as much as possible debt to the facility offering the lower rate of interest.0 -
Nick,
The credit card is def higher.
Thanks for the advice. I'll probably do that.
Lisa0 -
A typical overdraft would be in the region of say 19.5 AER, Visa credit card is say 24% APR then it would be cheaper to move the debt to the current account overdraft. Hi NickSince when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
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