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help regarding credit card/overdraft
shezam
Posts: 565 Forumite
in Credit cards
Hi there, I have a large overdraft which i am not able to pay off. Someone i work with mentinoed getting a credit card that has 0% on balance transfers for say 12 months.
Would i be able to get a credit card that does the above, pay money into my bank, clear of overdraft, then just pay back the credit card? I don't really understand!
Please help. thanks
Suzi
Would i be able to get a credit card that does the above, pay money into my bank, clear of overdraft, then just pay back the credit card? I don't really understand!
Please help. thanks
Suzi
0
Comments
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If you have a good credit rating then you may be able to get a 0% balance transfer deal on an MBNA card.. they allow you to BT to your current a/c for a 4% fee.
Unless you clear the balance in a year you will of course start paying high APR and yu may be worse off
If you're spending more than your income you need to budget and cut down spending so you have more to pay off the OD0
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