We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
"Balance Transfer"?
McPlan
Posts: 1 Newbie
in Credit cards
Hi, I'm new to this kind of stuff, so am unsure if the term 'balance transfer' would mean that I could transfer my bank account overdraft (£1400) to a credit card? is this allowed? I'm just unsure of the terms, as to whether balance transfer applies to bank accounts or just existing credit. Currently, my bank is charging me £30 a month for my overdraft, and I think I'd be able to transfer my overdraft, for a one-off fee of less than what I'm paying a month, immediately cut up the credit card so I can't spend on it, then pay back what I can each month. Does this sound right? Thanks in advance for your help
0
Comments
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.1K Banking & Borrowing
- 254.6K Reduce Debt & Boost Income
- 455.8K Spending & Discounts
- 247.9K Work, Benefits & Business
- 605K Mortgages, Homes & Bills
- 178.8K Life & Family
- 262.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards