Using a 0% credit card to pay off overdraft

Greenboy

Afternoon

After a couple of dodgy months i've run my overdraft up more than i am comfortable with. I'd like to clear it down and transfer that debt onto a 0% credit card. I should be able to pay off the credit card fairly soon but my thinking is it's better being on there at 0% than in an overdraft at £1 a day......

Can anyone impart any advice - is it possible to do this?

InsideInsurance

Only a few cards allow you to transfer funds to something other than another credit card so you need to pick the right card and hope its not one you already/ recently held.

Evidently you need to do your sums over when you think you could pay it off -v- £1 a day overdraft fee -v- 3% balance transfer fee

JimmyTheWig

How much is your overdraft?
How much do you regularly spend?

You could get a 0% card for spending.
Then when you buy something that you would have normally bought (e.g. weekly shop, petrol, etc) pay on this card rather than debit card / cash.
The money you would normally have spent will help clear your overdraft while your credit card balance increases.

Then pay off the card as quickly as you can.