"'Newbie'' Topher85", hi to All.

Topher85

Hi,and thank you,to all that have helped/advise,I have taken,''before'' registering.
Not sure if I have made a real 'Faux Parr',RE: Balance Transfers,as I read your item on the marks and Spencer credit card and te 0% period,before date and coupon,sect,and I THOUGH this would solve my ongoing financial 'hic-up'.
I am currently unable to work and pay ( AV)£31 month interest on my Santander Current account 'Overdraft Fee
So I though I would be a smart a.... and ask my mum to apply for a card,so that I could put the £900/£1300

Overdraft AMMOUNT 'ON THAT CARD AS a 'BALANCE transfer!?,then from my Santander C/Account set up a D/D to pay off ''Total AMMOUNT on 0% M+S Credit card per month and clear BEFORE 'stop' date.,as I read you had to transfer before March???.
So she has been accepted and the card( she IS totally aware of what we are doing!) And am told it is on its way,so today decided to,see EXACTLY how these ''0% Balance Transfers Work......and then I saw the ''loan transfer section,and presume ,I have got it all wrong??
or is there ANY way ,with minimum Fee i 'CAN' transfer my 'overdraft on to HER M+S credit card,and indulge in the 19 month,or so ,No interest???
Any advice would be much appreciated.
Thank you.:rotfl:

Brightspark87

Hi

Really sorry I want to help but struggling to read the above post. perhaps you could repost with bullet points?

MallyGirl

If you want to pay off an overdraft you need a money transfer card not a balance transfer card. They usually have a fee of around 3 or 4%. MBNA do one

greensalad

Hi, and thank you, to all that have helped/advised which I have taken before registering.

Not sure if I have made a real faux pas RE: Balance Transfers, as I read the piece on the Marks and Spencer credit card and the 0% period and I thought this would solve my ongoing financial 'hiccup'.

I am currently unable to work and pay (average) £31 month interest on my Santander Current account as an 'Overdraft Fee', so I thought I would be a smart alec and ask my mum to apply for a card so that I could put the £900/£1300 overdraft amount on that card instead as a balance transfer.

Then from my Santander C/Account set up a D/D to pay off the total amount on 0% M+S Credit card per month and clear BEFORE interest free period is over.

So she has been accepted and the card (she is totally aware of what we are doing!) and am told it is on its way, so today decided to see exactly how these 0% Balance Transfers Work, and then I saw the ''loan transfer" section and presume I have got it all wrong??

Or is there any way, with a minimal fee, I can transfer my overdraft on to her M+S credit card, and indulge in the 19 month zero interest?

Any advice would be much appreciated.

Thank you.

For those who are struggling.

greensalad

Topher85: when you applied for the card there might have been an option to do the balance transfer then and there.

If there isn't, then you probably just need to call up (or find it online) and it will allow you to do the balance transfer. I believe balance transfers can be from anywhere (overdraft, loan, another CC) so I think you're fine.

FireWyrm

Paying off Overdrafts counts as a cash advance. You would need a balance transfer card with that the ability to transfer money as well as the 'balance' as normal and I only know of MBNA that does it.

DD265

I had a Barclaycard that could do it as well. You probably need to ring the card issuer and ask.

LittleMissGiggles123

Would they even allow a balance transfer because the debt is in your name but the card is in your mums name? Hopefully somebody more knowledgeable will be able to advise on this.