How quickly do I need to repay overdraft?

Money_Rollercoaster

The trouble with an overdraft debt, compared to a cc debt, is that it can be difficult to see what progress you're making in reducing the debt every month. At least with a CC you know on any day of the month what you have remaining to pay ... with an OD, your account might be in credit a bit at first and then by the end of the month you're back at square one. The only way to handle it is to budget and make sure you've got a plan for reducing that negative balance somehow and taking into account the fees you get charged monthly.


As suggested, assuming you're eligible and you've got the self control not to get into a real pickle, a money transfer CC 0% deal might be a good way to reduce what you're paying in fees / interest and focus on clearing it ASAP.