Consolidation

yellowplum

I have just received my virgin money card and transferred three fixed former fixed rate balances to the zero percent.

Now all I have remaining is a small overdraft with Santander (former A&L account). I didn't pay this off first because it incurred the lowest charges, namely £5 per month for the OD. Gradually Santander have been increasing the charges to £10 and recently £20 pcm.

My question - I have looked and sent that instead of charging 1.99% Virgin are charging 4% to BT an account.

I did have a think of a way around this if anyone has managed to do it I was interested to know. If you BT a credit card with nothing on, you are of course in credit and your credit card provider in theory should send you a cheque for the balance.

bigadaj

That would be a loan then. Or possibly credit card cheques which caused all those problems several years ago.

If the overdraft is small can you not afford to pay it off in the next few months, whilst maintaining your minimum credit card payment of course.

sharpy2010

yellowplum wrote: »

I did have a think of a way around this if anyone has managed to do it I was interested to know. If you BT a credit card with nothing on, you are of course in credit and your credit card provider in theory should send you a cheque for the balance.

In theory, yes, thats what should happen. But these days, since those idiots at the world trade centre, what actually happens is your transaction is investigated possible money laudering, and, IF released back to you, simply sent back to the place it came from.