Halifax loan + overdraft

Rocky27

Hi,

Long time reader, first time poster!

I have an £850 overdraft and approx the same on a loan with Halifax, what I wondered is can I balance transfer the loan and/or the overdraft to a 0% card if someone will give me one!

I wasn't sure if balance transfers are only for credit card - credit card?!!

;)

BigDave81

I used to get balance transfers to my current account from my Virgin card on the 0% rate with 2.98% fee.

I am sure other cards allow transfers to current accounts as well.

Get the whole amount transferred to your current account this will clear the overdraft and you can then pay the loan off with debit card or cheque etc

Rocky27

Thanks bigdave

Slightly confused with the answer, I want to transfer from my current account (overdraft) and personal loan to a credit card?

Can this be done?

:A

BigDave81

Yes that's essentially what I said, you transfer the money from your credit card (if you can get accepted and get a nice 0% balance transfer offer) in to your current bank account.

This will cover your overdraft and then you can pay your loan with debit card or cheque from the same current account.

Therefore you will have £1700 on your credit card on 0% (although you will need to pay a fee for the transfer, around 3-4% of the balance) and a cleared loan and overdraft.

Hope this makes more sense to you