0% CC Help For Newbie Please

aberdeensaver

Hi All,

Finally felt brave enough to post, there are a lot of people with a huge amount of expertise around, and hoping someone can help me.

I am aiming to be debt clear by Nov 2012. I currently have:

EGG Credit Card - £750
Orange Credit Card - £1000
BoS Overdraft - £1750
HSBC Overdraft - £500

Total Debt = £4,000

I recently saw an ad for the new Barclaycard Platinum 0% for two years on credit transfers CC. I applied, been accepted for a £5,000 credit limit and now recieved an email saying they can only transfer the balance for the EGG credit card as the others are Overdrafts and the Orange CC is run by Barclays anyway.

The CC has 0% on purchases for 3 months and then it goes up to a 17.9% APR.

My BoS overdraft is the worst as they charge me a pound a day for my overdraft. So I am effectively paying £365 a year for it.

I currently pay about £300 a month into my debts, can someone advise if they can see any loop to help me put it all on the CC then pay the £300 a month into one account or is this just not the best thing to do?

Sorry if this is a bit discombobulated.

E x

Tixy

Hi

Do you have any other credit cards (with nil balances etc). If so possibly you could transfer the orange debt that way but you would of course pay 2 balance transfer fees. Even if you can do this whether its worthwhile will depend on your current APR.

Only a few cards allow you to transfer money to a current account to pay off overdrafts. MBNA/Virgin do and have a good 0% deal but having just been accepted for the bcard one you might not get one of these, you could possibly try though.