Clear overdraft by using credit card?

mnby9brj

I'm hoping that somone can help me.

I currently have a £750 overdraft on a HSBC student account. I have recently been contacted by HSBC to advise me that the overdraft will now be accruing interest of APR 18.9%.

I have a credit card with HSBC and also a barclaycard, both clear and with credit limits of £2,000. Both credit cards have a lower APR then the overdraft. Is there any way that I can transfer the balance to the barclaycard (I am looking to cut all ties with HSBC).

I have looked at withdrawing £750 on the barclaycard but understand that the cash balance would be subject to a very high APR, much higher than the overdraft APR.

I should be able to clear the balance within one year but wish to suffer the minimum interest possible.

Any help would be greatly appreciated.

Brian

[Deleted User]

Try searching on super balance transfers or egg money. There are plenty of threads covering this.

inmypocketnottheirs

Personally I would recommend switching banks to https://www.citibank.co.uk. Free overdraft of £500, amounts over this at 9.9%. You can have the basic Citibank Access account which is fee free. The Citibank Plus account charges £10 month and includes various 'benefits' such as annual worldwide travel insurance, mobile phone insurance, credit card protection plan and identity theft protection. The only downside is, if you need to pay in, then you have to use Lloyds TSB branches and it takes 5 days for the funds to show on your account.