cards vs overdraft?

clairebare_2

hi, can any one help? saved bucket loads of money, but i still have a very large overdraft £2500, silly question but can you do a balance transfer of overdrafts to credit cards?

mogwai

yes you can, just do a balance transfer into your account instead of another credit card.

might have to check with your card if they do it, though all my cards do so should be ok. Also, find out the balance transfer fees to see if its worth the move.

CLAPTON

only some cards will do a BT from current a/c to a CC. basically the MBNA stable of cards and eggmoney.

whether its worthwile depends upon the APRs, BT fee and how much you pay off each month.

cm233lh

For other cards, see Martin's "Card trick using Egg Money" on this page http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards

If you have introductory rates then it may be worth while. On standard rates you'll probably find that overdraft is cheaper.