Paying credit card balance into Current Account - How??

Mean_Green

Is it possible to use a credit card balance to pay into a current account?

Here's the short version of the story- I borrowed some money (£4500) from my mum with plan to pay back over 12months, for various reasons my mum needs her money back ASAP.

I did think about a loan but interest rates are not great. So I think thought about a 0% card and pay off in 12 months (or so).

So how could I pay money into a current account from a credit card?

thenudeone

Many CCs offer "cash Transfers" but they will usually charge a on-off fee (around 4%) and will charge interest from day 1.
It's very unusual to offer 0% interest on Cash transfers (although MBNA sometimes do).
The Marks and Spencer card has a loophole where you can buy sterling travellers cheques which (I think) are treated as purchase and use the introductory 0% period - see other threads for details.

[Deleted User]

You're after a super balance transfer card - the likes of which are offered by MBNA. You'll pay a fee of around 4% to move money into your account.

But it depends on whether you will be accepted for the card, and for a 0% deal, and for what credit limit. Depending on your history, £5k ish may be a big ask. But then again, it may not...

fozmcfc

Many around here, say that MBNA backed cards, generally give generous limit, providing your credit status/istory is very good/excellent.

Of my 6 cards, my Virgin card gave me the highest limit of them all.