Balance transfer an overdraft? Help

swampcat

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.

fleagle21

swampcat wrote: »

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)

CannyJock

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.