Paying overdraft with CC

jeff1969

I currently have £1500 on overdraft at my bank and want to transfer this to a credit card with a low if not zero percent APR.

Is there anything I need to be aware of before applying for a cc to allow me to do this, or will any old cc do?

Thanks

grumbler

See Super BTs and Stoozing links in the blue box above ...

jeff1969

So basically there's only mint card that can do SBT? as I'm guessing that this is what's needed to pay off the overdraft?

Or can I use a virgin card which has cheques to pay off the debt and then transfer to any old 0% card ( although I'm guessing that using cheques is classed as cash? ).

Thanks

grumbler

What do you mean when saying 'old 0% card'. How old? 0% is usually an introductory offer. When the introductory period is over, BTs are usually classed as cash advances.
If you get some new card with 0% on BTs and no SBT option, you can use some of your old cards to draw cash (cash advance fee is usually 2%) and then transfer the balance to the new card. You will also pay a few days interest in this case.

If you don't want to pay 2%+, there are The Easy Route and The Middle Route described in the article I mentioned above.