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"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
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