Shall I super balance transfer?

sarahfairy

Hi there - I'm a first time poster so sorry if this is in the wrong section. We have 2 overdrafts, one of 2000 (unused account) and the other at 1800 (current account - salaries paid in, bills come out and day to day spending). I want to clear them so that we don't have a 'sitting' debt and it would also be nice to look at our current account just before payday and still be in the green, or if in the red then only a little!

We seem to be stuck in a rut after my 2nd maternity leave came to an end last year and we acquired a bigger house, mortgage and therefore bills!

I have received a Virgin credit card (1500 limit) and have applied for the Virgin All Round card and been approved (1900 linit).

Would the wisest way to do this be to super balance transfer with both these cards and select a sensible monthly amount that would be set up as a standing order every month, that will clear the balance before the 0% runs out?

Or is there a better way to do this?

So confused.

Many thanks

SCO

What interest are you getting charged on your overdraft?

Sounds a good idea.

however remember you will get charged a BT fee.

YorkshireBoy

How much interest is being applied to the current accounts each month?

How much are you currently reducing the overdrafts by each month, say over the last 6 months or so?

Your contractual minimum payments will total £50 per month across both cards. Had you planned to pay more than this?