Transfer graduate overdraft to Credit card

mlawton40

I have a graduate overdraft which gets reduced to £1000 in June I have maxed out the limit therefore would like to transfer this amount to a 0% credit card (via balance transfer/money transfer as reccomended on this site). Is this possible?

I have applied for a Virgin and American Express credit card however, I have been turned down. I have already got a Asda credit card to which is paid off in full every month, I have a bank loan which I also keep up with payments. Can anyone suggest how I may transfer my overdraft???

mlawton40

Does anyone have any ideas?

CLAPTON

what's your income ?
what are your full debts, aprs and minimum monthly payments?
what was the OD reduced from?
what is your credit record like?
how much can you afford to repay each month?
what reasons did Virgin and Amex give for refusing you?

mlawton40

---

CLAPTON

I'm a bit confused... if you can afford 100 per month, why isn't that already being used to reduce the OD each month?

mlawton40

It is, but it won't be down to a grand by June. Will have about 500 left which if possible I want to not have to pay the interest that the overdraft will give me!!

mlawton40

P.S Im not sure why this matters anyway. The original question was would I be able to use a balance transfer option on a credit card to clear this? Such as a tesco credit card as mentioned on this website or is tht purely from credit card to credit card and doesn't include overdraft on debit?

CLAPTON

There are several ways to skin a cat so the facts are sometimes helpful.

In this case I interpreted your original post to mean you wanted ideas about the least expensive way of resolving the OD issue, but apparently not.

Anyway the answer to your specific question about tranferring OD to credit cards is that only a few allow this.. e.g. MBNA stable (including Virgin) and sometimes CCs offer cheques to do this. Otherwise no, BTs only work between CCs.