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paying credit card with overdraft
sxi-kenny
Posts: 178 Forumite
i currently have one credit card with a balance of £1400 on it, im planning on clearing it this year
i was trying to think of ways to clear it quicker and i think ive came up with a solution, i have an overdraf of £350, which i am never in, and i currently pay £100 per month to the credit card, so what i was thinking of doing is using £250 from my overdraft to pay the credit card, thus paying £350 in one month, then in say 2-3 months time when the overdraft is cleared, use another £250 from the overdraft to pay on the credit
do yous think this is a good idea or not ?
i was trying to think of ways to clear it quicker and i think ive came up with a solution, i have an overdraf of £350, which i am never in, and i currently pay £100 per month to the credit card, so what i was thinking of doing is using £250 from my overdraft to pay the credit card, thus paying £350 in one month, then in say 2-3 months time when the overdraft is cleared, use another £250 from the overdraft to pay on the credit
do yous think this is a good idea or not ?
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Comments
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Depends what the APRs are - what are they?:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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have you considered transferring to another cc with a 0% interest offer?
Plenty of them around (some up to 9 months) - check out the Credit cards section of the site
That should keep you interest free
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