Overdrafts

louloututu

Hi all

A simple question which I should know the answer to.... but I don't:

Can I transfer an overdraft as a balance transfer to a 0% credit card?




Thanks

Loulou

CLAPTON

only with a very few CCs
e.g. the MBNA stable will allow you to transfer from your current a/c (nominally an OD) to their card.

loopy.magic

Egg is another card that allows transfers to current accounts

Moggles_2

A few rather special cards will allow you to transfer an overdraft to them, (in other words, transfer cash from the credit card to your current account), at balance transfer rates.

A handling fee applies (typically 3-4% of the sum shifted), but there are no other charges during the introductory promotion (typically 12-13 months). You need:

a card issued by MBNA (e.g. MBNA itself, Sony, Virgin), Egg card or the Bank of Ireland's Post Office card.

To maximise the 0% period, 16 months is currently available to new customers from Virgin. There's a 4% handling charge.
http://uk.virginmoney.com/virgin/credit-cards-v3/