overdraft/credit card

barnsmore

hi all i bank with santander but from august there charging £1 per day overdraft i was thinking of somehow seeing if i can transfer from credit card to bank and put my account in credit as i dont fancy paying £31 per month im sure the credit card interest will be less the overdraft is £250 , im in low paid job at moment and having trouble catching up so to speak thanks in advance, my credit card balance is only 2/3 hundred

InsideInsurance

To do it officially you either need a need a super balance transfer card (these tend to be from MBNA) or to do a cash advance

Cash advances tend to attract higher interest rates, fees and are charged from day 1

Of cause some others may play about with the likes of PayPal to send money etc and thus get the money counted as a purchase rather than cash advance but it;ll probably breach a number of terms and conditions

grumbler

Do you know the words 'sentence', 'capital letter', 'full stop'?

See MSE guide: Money Transfers

Alternatively you can get a 0% Spending Credit Card and use it for a 'slow transfer' by using the 'saved' money to pay your overdraft off.

Also, you can apply for a Balance Transfer Credit Card, withdraw cash from your CC and transfer the balance to the new card. This will cost you cash advance fee on the top of BT fee.

barnsmore

thanks, think i will try get the money together sell a few bits im always up for a challenge