Barclaycard 0% 12 month cheques

jen_a_c

I've recently been sent some 0% Balance Transfer cheques from Barclaycard. Now, I've had Balance transfer offers before, and I've also had cheques before, but never a combination of the two.

As the 0% is until Jan 10, I'd like to use a cheque to clear my overdraft, which I'm paying a lot higher rate on. Is there anything to stop me making the cheque payable to myself, and paying this into my bank account to clear the overdraft? I know B/card don't offer a direct balance transfer to overdrafts like other card companies, but I wondered if this was different, due to it being a cheque.

Replies/thoughts much appreciated!

Thanks

p1an0player

yes you can pay it into your bank account

watch out for balance transfer fees though, it might be 3%

jen_a_c

I think it's 2.5% fee. I'm willing to take the hit though, based on my interest savings throughout the year, and the joy of seeing my bank account in credit!! (Know the debt will be elsewhere though!)

Thanks for the prompt response, and the good news!

Calchas

Read the paperwork carefully jen_a_c.

Your intention may (just may) be considered the same as taking a cash advance! :eek:

YorkshireBoy

Calchas wrote: »

Read the paperwork carefully jen_a_c.

Your intention may (just may) be considered the same as taking a cash advance! :eek:

Agreed. If it only says something like "you can use these cheques to pay for goods and services" then consider making the cheque out to a (reliable) friend/family member with a different surname, and getting at the cash that way.

Better to be safe than sorry?

jen_a_c

Oh really?

Now I'm confused about what to do, I don't want them to charge me a cash rate! Don't really want to get anyone else involved either......I will have to check the t&cs, I don't recall seeing a list of t&c in with the cheques though......

jen_a_c

And they were specifically advertised as balance transfer cheques?

p1an0player

I've done it before with Barclaycard and not had a problem

but yes, read the T&Cs

Seaxwyn

Hi Jen, I had the same offer and rang Barclaycard to ask. They said that you could NOT use the cheques to clear an overdraft - only a credit card, store card or loan.

NickX

I have paid Barclaycard Credit Card Cheques into my Bank Account, and it was even a Barclays Bank Account and they were treated as 0% Balance Transfers. Luvley Jubbly it was too

Angela

I am feeling a bit peeved as I received these but only for 6 months,twelve would have been great as the saving would have been much bigger and it would be a real incentive to get my overdraft paid off by the end.