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Paying an overdraft off with credit card?
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cazsmith99
Posts: 41 Forumite
Hi,
I have an overdraft of 1500, i have been paying some off every mont but all i'm touching is the interest. So I had the bright idea of taking out a credit card so i could pay it off and do a balance transfer to 0% card. However the balance they gave me was only £1000. I do have another card with £500 that i could transfer the balance to but then I will be paying interest on the remainder. It seems like i just can't bloody get rid of this o/d.
Also its in an old account with no inome going in/out
In short I just want to know the best way round this?
Thanks in advance
I have an overdraft of 1500, i have been paying some off every mont but all i'm touching is the interest. So I had the bright idea of taking out a credit card so i could pay it off and do a balance transfer to 0% card. However the balance they gave me was only £1000. I do have another card with £500 that i could transfer the balance to but then I will be paying interest on the remainder. It seems like i just can't bloody get rid of this o/d.
Also its in an old account with no inome going in/out
In short I just want to know the best way round this?
Thanks in advance
0
Comments
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You can't BT a loan directly. You would need a money transfer card - eg MBNA.
Which card did you get?0 -
i have a lloyds and halifax card0
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what i had intended to do was use the car with the highest balance available, take the cash out then transfer to a 0% card0
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That works in theory (assuming you can BT between Lloyds and Halifax?). But you'll pay the cash advance fee and then the BT fee.
What is the rate on your overdraft?0 -
i can't seem to find anythng that says, Its my husbands account origianlly and hes not the best with paperwork. Or finances in general for that matter lol0
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