One card or two?

Dr_M

Hi all
First post so a lil nervous
I was looking for some advice on credit cards as I currently have a £2k overdraft and I'm looking to make a purchase of £2.5k in addition
So I've researched the debt advice and various lending advice and I think I can get a CC for balance transfer at £100 pm from Virgin; that would be cleared before the 36 month 0% interest period ends and I can make my purchase and reduce my overdraft by £1000
Or am I better getting one card for balance transfer and a seperate card for spending?
I earn enough to cover and my credit history is good, my OD built up due to illness last year
Any advice greatly appreciated
Thanks

Candyapple

Keep the cards separate - 1 for balance transfer and 1 for spending.

You will need a money transfer card to clear your overdraft - look at MBNA or Virgin: http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs

For your purchases - look here: http://www.moneysavingexpert.com/credit-cards/best-0-credit-cards

Tixy

Does the virgin card you are looking at have the same 0% period on purchases as on money transfers?

Were you intending to make the £2.5k purchase on the credit card? or pay to transfer £3.5k to your bank account and then spend the £2.5k from your bank account? Doing it this way will cost you in balance transfer fees that you wouldn't incur with a card that offers 0% on new spending.

What is the reason behind only reducing the overdraft by £1k? is it interest free on the first £1k? or is it that you know you can pay off other £1k relatively quickly anyway?