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Is it worth transferring an overdraft to a credit card.
kevinh1
Posts: 1 Newbie
in Credit cards
Has anyone transferred a overdraft balance to a credit card? Any advice on if it was worth it. Or maybe somebody has a better suggestion.
0
Comments
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ManyHas anyone transferred a overdraft balance to a credit card?
It is if the CC's interest rate is considerably lower.Any advice on if it was worth it.
Pay it off without transferring.Or maybe somebody has a better suggestion.
MSE article: Money Transfers0 -
I have.
Had a £2000 overdraft with Halifax which for some reason I could never make an impact on but never went over the limit.
As they started charging £1 per day for overdrafts I did a 0% transfer to a CC. Initial saving of c£20 month and actually paying it off.
You must ensure that you don't start to creep back into the overdraft or you will end up in a worse position with a CC bill to pay and an expensive overdraft. :eek:0
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