Can an Overdraft be transferred at 0% to a 0% credit card?

Charlotte123

I have a large overdraft and struggling to redcude it let alone get out of it. Can an overdrawn balance on a current account be transferred at 0% to a credit card?

glasgowsaver2011

Yes but only if your sneaky about it.

Get a credit card with 0% for purchases

get a wonga loan.

As soon as loan is in your account pay it back online (the same day) with your credit card ( I think you have to tick the box saying visa debit)

Toe-Jam

glasgowsaver2011 wrote: »

get a wonga loan.

I would never encourage anyone to take a loan out with wonga, they are loan sharks with a website.

I would take out a prepaid card top it up with your credit card, and then withdraw it as cash to pay back the overdraft.

But make sure to check that the transaction will be treated as a purchase rather than a cash advance otherwise the interest will be instant and high.

you may also incur some charges for topping up via credit card 2% or so. and maybe £2-£3 to take the money out of the atm.

glasgowsaver2011

Toe-Jam wrote: »

I would never encourage anyone to take a loan out with wonga, they are loan sharks with a website.

I would take out a prepaid card top it up with your credit card, and then withdraw it as cash to pay back the overdraft.

But make sure to check that the transaction will be treated as a purchase rather than a cash advance otherwise the interest will be instant and high.

you may also incur some charges for topping up via credit card 2% or so. and maybe £2-£3 to take the money out of the atm.

This is just as good as doing it the wonga way