Will this work?

rubuhoeikanaika

So, my mum has a £2k balance on her Abbey credit a card (limit £3k), and an £800 overdraft.

I've got her a barclaycard platinum, limit £3k, with 12 months 0% balance transfer.

My plan:
- use a cash advance from Abbey card to pay off overdraft.
- close overdraft
- move Abbey card balance of £3k or so to barclaycard at 0%
- cancel Abbey card

So the abbey card balance and overdraft are at 0%. Is there any reason this wouldn't work?

rubuhoe

CLAPTON

I think it will work but whether its worthwhile depends upon

the APRs of the OD and the Abbey card
the fee for cash advance
the fee for the BT

and wether you will clear the debt within a year.

Also personally I wouldn't close the OD just in case you go over by accident and incur a fee, but you may have a different priority here.