Barclaycard B.Transfer cheque - can I pay it into my current account?

JennyB

Hello

I'm hoping to get some advice from all you wise credit card gurus.

I just got an offer through from Barclaycard on my monthly statement offering 5.9% on balance transfers for the life of the balance through the attached cheque.

A year ago I had the same offer and I took it up by paying it into my Natwest current account. I wrote out the cheque for £5,000 which paid off some of my overdraft and left about £3,500 in cash in my current account.

My plan was to do this again for £1,000 paying off my £16 (!!) overdraft and leaving me with the rest in cash. I phoned up Barclaycard to ask them a question about dates (the deadline is only 5 days away) and they said I couldn't use the cheque to pay off my overdraft (I didn't tell them it was only £16) I could only use it to pay off other credit cards/HP loans. I said I had done this before and the girl said they just don't do it anymore.

So my question is: is this really true or can I pay the cheque in and get the cash like I did last time?

Thanks in advance for your help :T
Jenny

Rafter

According to the Barclaycard website here....

http://www.barclaycard.co.uk/Customer_Service/Guide/costs.html

....you can pay cheques into your current account.

5.9% is more than you can get on savings so make sure you are using the money for paying off more expensive debt? Make sure you don't use your card for purchases either - otherwise you will pay interest on those at the higher purchase rate.

Good luck

R.

JennyB

Thank you! That's really helpful. I did look on the website and couldn't find anything. Unfortunately I'm borrowing the money to live off (eek!) - student. Almost done though - just a few more months and then hopefully I'll have a job and can stop racking up the debts.