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Balance transfer an overdraft? Help
swampcat
Posts: 1 Newbie
in Credit cards
Hi, I have a large overdraft £4,000 and the interest is killing me. Is it a good idea to get a 0% credit card? Is it possible to transfer my overdraft to the credit card?
My husband's company has just made a couple of people redundant and I am jittery to say the least.
My husband's company has just made a couple of people redundant and I am jittery to say the least.
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Comments
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Hi, I have a large overdraft £4,000 and the interest is killing me. Is it a good idea to get a 0% credit card? Is it possible to transfer my overdraft to the credit card?
My husband's company has just made a couple of people redundant and I am jittery to say the least.
I'm not sure if you can transfer your overdraft to your credit card (someone else can answer this I'm sure) but some credit cards allow 0% cash transfers to your bank account, but you do pay a fee of around 3-4% for them to do the transfer. MBNA and Virgin definitely do this (Virgin card is essentially an MBNA one)
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You need one of these cards http://www.stoozing.com/sbt.php they will let you transfer an overdraft to your credit card. If you use any of these for a balance transfer then don't use it for normal purchases. You'll need a half decent credit history to be accepted for one of these."A child of five could understand this. Fetch me a child of five." - Groucho Marx0
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