Student overdraft Debt

Guru86

Hello,

My partner finished uni a year ago and now has the dreaded letter that the 0% overdraft is coming to the end, she has 1600 on this overdraft and is going to be charged for what ever she is over the 1000 at about 16%. Is there any products that you are aware of that she can move onto?

She earns basic 500 a month and I have 11000 worth of cc debt so dont really want to put more on that.

Any help appreciated.

Tixy

It depends on her financial situation and her credit rating. (Such as how long it might take her to repay the £600).

She might want to consider a 0% super balance transfer credit card but the 0% is only a promotional balance so if she can't afford to pay it off in the 0% time frame then it might not save her money.

It needs to be a superbalance transfer card to do a balance transfer to put the money into her current account.
Here's a link to the SBT cards at the moment http://www.stoozing.com/sbt.php

GeorgeUK

Has she tried to get a graduate account?

Guru86

sorry what is a graduate account?

Tixy

Here is an article http://www.moneysavingexpert.com/banking/graduate-bank-accounts, Basically once you graduate you can get a specific account which has a 0% overdraft (you convert the student account to a graduate account) Usually the 0% overdraft limit gradually reduces.

BeautyandtheBeast_3

speak to HSBC or Barclays - they were excellent with me and changed my student account to a graduate account