CC to pay off overdraft?

leafton

Is there a CC that will pay off a current account overdraft as a BT and thereby attract 0% interest? Just tried HSBC and he said there are no cards that do this.

asharon

egg do so you can get other 0% and trasfer to that one, the egg and then they will transfer to your current account. They also run an anniversary offer every year, well at least for the next one or two with a 0% for 5 months offer.

Rafter

MBNA cards work like this too. And companies like Mint sometimes do balance transfer cheques.

On an old egg card it is free, but with new ones they will charge you a balance transfer fee.

To avoid the fee get a card that offers 0% on purchases. Then pay everything for a couple of months on that card rather than your current account and the overdraft should go down? Just make sure you have saved up enough to repay the credit card at the end of the interest free period or have somewhere else at 0% to transfer it to.

Good luck.

R.

Thefunkygibbons

The number that do this have declined

The best free one is MINT, after a period they give cheques which can be used to do this for free

The others all have fees

check out https://www.stoozing.com for details of SBT cards

grumbler

Thefunkygibbons wrote:

...MINT, after a period they give cheques which can be used to do this for free...

AFAIK they stopped doing this for free:
Summary Box:

For each balance transfer and cheque transaction debited to the account during the introductory period or during January 2007, we will charge you 2% of the transaction amount (minimum £5, maximum £49).