📨 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 debt

Is it worth transfering your overdraft onto a credit card to try and get rid of the overdraft and then just have a monthly payment so as you are not in your overdraft every month??

Thats if i can apply for another credit card?? :rolleyes:

Comments

  • loubie_lou
    loubie_lou Posts: 1,368 Forumite
    Part of the Furniture Combo Breaker
    Thats one thing i'vw always been wondering do credit card companies allow you to transfer overdrafts onto 0% credit cards?? If so which ones.....!
    In debt no more!
  • jobbingmusician
    jobbingmusician Posts: 20,347 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    None do, AFAIK.

    BUT if you use a 0% credit card to buy things, and immediately throw the money at the overdraft, you are well on your way ;)
    Ex board guide. Signature now changed (if you know, you know).
  • Another option would be to gradually reduce your overdraft each month or week, each time you get paid reduce it by affordable amounts even if its £10 or £20 its still going down.
    You can amend your overdraft by calling or online facilities.

    good luck
    Abbey Loan £6,000
    Tesco loan £3,000
    Tesco points --- £100 worth £400 in deals for holiday! :j :T
    "It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." (Charles Darwin)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.3K Work, Benefits & Business
  • 599.5K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.