How can I make the transfer???

notaclue101

Hi all

I'd like to use my credit card to clear an overdraft on my current account so all debt and repayments are in one place.

I currently have a Lloyds credit card and a Lloyds current account (which the overdraft facility is on). Going through online baking there are no options to transfer funds to my current account from my credit card. So I guess I have to make a payment to my current account from the credit card another way, somehow. How do I do this??

I know I sound clueless and in all honest I am confused on this one.

Thanks in advance

[Deleted User]

You can't do that with a Lloyds card. You would need a card that offers money transfer, such as MBNA.

fracturedsun

You can't transfer credit card fees to a bank account (unless it's a super balance transfer card, I don't think Lloyds offer one) it would be classified as a cash advance.

The only way I can think of would be to withdraw the money from an ATM and pay into your bank account. I wouldn't advise it as the fees for cash advances are high.

notaclue101

So theres no way of withdrawing funds from the card? Withdrawing money from a cashpoint would result in charges I would rather avoid.

InsideInsurance

The only way to do it with your current card would to be slightly disingenuous and fund a paypal account with it and then withdraw the funds to the current account but then you will have the paypal transaction fee to pay

notaclue101

Thanks for your help so far

Would you know what the process is for doing is through Paypal, just had a brief look and I don't use my Papal account very often, wouldn't know where to start

Thanks again

fracturedsun

You would need someone else that you trust with a paypal account, you then pay them through your paypal and use your card as the source. Then get them to pay you back.

Log in go to send money and select this is for purchase of goods. Insert their email address and the amount where asked.

Of course you have then given them your money so you have to trust that they will then pay you back. It will take several days to reach their bank account so don't expect to receive the money immediately.