Uni Bank O/D Advice

dazzae2008

Hi Guys,

Usually reader not a poster....

I have a bit of a problem... When at Uni I got a big O/D from the Halifax a which is £2490.00. Now halifax are stinging me £26 per month interest andhave done for past 18 months and I am fed of paying them it.... (i know I shouldnt of got a O/D but young and naive !)

Ive got a bad credit history (as I have no suppose credit) and cannot transfer this to a nice 0% super transfer card then to my barclay I have been approved for.

I can see Santander are doing an offer where you switch banks they will give me £100.00 cash back and also 12 months 0% interest free O/D.

Would this be may best bet to transfer to them and try to clear it in 12 months?

£2490.00 -£100 = £2390 / 12 = £200 a month...

I currently have a ISA with the halifax so could put £200 in this ISA per month for 12 months and gain the interest on it before transferring it over when needed.

Would this be may best bet here cause am unsure please help

Suitcase

Hi,

If you have bad credit then I don't think you could get the 0% OD. I'm in a similar situation as you, but my OD is only 1800.. I'm just trying to budget and keep 100-200 in my account from my wages... That way the interest payments are reduced and I'm slowly eating away at it. :-)