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0% Balance transfers on OVERDRAFTS
Editor123
Posts: 6 Forumite
in Credit cards
Is there a way in which I can transfer about £5k which has been built up over about 4 different overdraft facilities when I was student..
I also have £1800 outstanding on 2 credit cards
It prob costs me somewhere in the region of £80 a month in interest payments...
so I would like to transfer the whole lot onto a 0% card and then become a tart until it is all paid off!
Any suggestions of which bank offers this?
Thanks guys!
I also have £1800 outstanding on 2 credit cards
It prob costs me somewhere in the region of £80 a month in interest payments...
so I would like to transfer the whole lot onto a 0% card and then become a tart until it is all paid off!
Any suggestions of which bank offers this?
Thanks guys!
0
Comments
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Egg and Virgin do it but there are BT fees.0
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There are a few credit cards that would allow you to transfer about 90% of it's credit limit into your current account and then pay off your overdraft and certainly the MBNA groups of credit cards will have this facility.
However it depends entirely to your circumstances on getting a good credit limit on this card like having a permanent job and if you have a good credit score.0 -
Marbles do too. You have to write one of their credit card cheques to do the balance transfer capped at £50 charge and it acts as a 0% balance transfer.
Current offer is for 12 months on https://www.marbles.com
Check the T&Cs for yourself before you apply."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
mrcow wrote:Marbles do too. You have to write one of their credit card cheques to do the balance transfer capped at £50 charge and it acts as a 0% balance transfer.
Current offer is for 12 months on https://www.marbles.com
Check the T&Cs for yourself before you apply.
Just wondering where you got the info from that it's capped at £50? I've been approved for one but all I can see is regarding the BT fee is - 'we will charge a fee of 2% of the amount of each Balance Transfer (minimum £5)'
I'm looking to transfer about £4000-4500 so if it was capped It'd be cheaper
Thanks0 -
PRINCE$$ wrote:Just wondering where you got the info from that it's capped at £50? I've been approved for one but all I can see is regarding the BT fee is - 'we will charge a fee of 2% of the amount of each Balance Transfer (minimum £5)'
I'm looking to transfer about £4000-4500 so if it was capped It'd be cheaper
Thanks
It was through personal experience.
I did this in June '06 with Marbles CC cheque on a £6700 balance, and it was capped at £50 back then and I''ve just finished paying it back at 0% and there have been no hidden "nasties".
That's why I'd recommend to check the T&Cs before you do anything. It's best to ring them and ask for the most up to date info before you apply as CC companies often change their T&Cs and may have even changed the procedure on the cc cheque for the 0% balance transfer."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Thanks, they still use the cheques in the same way and apparently the BT fee is no longer capped as of Aug 06 which is why I couldn't see this when I read the T & Cs. Pity, but it's still a good deal. And you get £20 back from quidco too0
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Editor123 wrote:Is there a way in which I can transfer about £5k which has been built up over about 4 different overdraft facilities when I was student..
I also have £1800 outstanding on 2 credit cards
It prob costs me somewhere in the region of £80 a month in interest payments...
so I would like to transfer the whole lot onto a 0% card and then become a tart until it is all paid off!
Any suggestions of which bank offers this?
Thanks guys!0
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