Balance transfers to pay overdraft

flyingguy

Hi all, was hoping someone might be able to give me some advice.

I've currently got a capital one credit card with no BT offers etc with about £800 balance (limit 1k), and an overdraft of 1k with Halifax which is costing me £30 a month. I've been accepted for a barclaycard with a long interest free period on balance transfers, and suprisingly my credit limit is 5k. I want to clear both of those balances onto the one card, close the hbos account and credit card. However I'm not yet sure if Barclaycard will allow me to transfer to a current account, the options are greyed out until I receive and activate my card, but I know some people can and some can't. If I can't, I was wondering if there is a way I can shift things around to clear the overdraft? I was declined for an MBNA card having had one many years ago, and capital one doesn't allow for payments to bank accounts. My only idea, which might be a bad one, is to BT to clear the £800, wait for that to clear, then withdraw say £950 in cash from the CC, pay off the OD and then balance transfer again to pay off the £950. I realise I'll be paying interest on the cash, and a cash advance fee, but in the long run it would be cheaper than keeping the OD? Also, can you do a BT twice to the same card?

I hope this all seems clear, I intend on paying off the barclaycard as soon as possible, and savng myself the £60+ in interest I'm paying on the hbos and cc.

Additional thought, I have one of those pre-paid credit cards for travel, would it work if I did a balance transfer of 1k to that? Withdrew it, and paid off the OD?