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Balance transfer from overdraft to balance transfer credit card
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NayWP
Posts: 1 Newbie
in Credit cards
Hello
Is it possible to transfer debt from an overdraft on my current account to a balance transfer credit card?
I've found several credit cards that I can easily afford to pay back within the 0% interest period (ranging from 29 months to 18 months) and I'm hoping to transfer my £920 of debt from my current account to a CC to dig me out of my debt hole. The monthly interest payments on my current account are significantly eating into my ability to pay back my over draft.
Thanks in advance for any advice.
N
Is it possible to transfer debt from an overdraft on my current account to a balance transfer credit card?
I've found several credit cards that I can easily afford to pay back within the 0% interest period (ranging from 29 months to 18 months) and I'm hoping to transfer my £920 of debt from my current account to a CC to dig me out of my debt hole. The monthly interest payments on my current account are significantly eating into my ability to pay back my over draft.
Thanks in advance for any advice.
N
0
Comments
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No. You need a money transfer option.0
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Balance transfer cards are for transferring credit card balances - it's a money transfer card you need for repaying an overdraft: https://www.moneysavingexpert.com/credit-cards/money-transfers/0
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You need a Money Transfer card, the 3 best buys can be seen here https://www.moneysavingexpert.com/credit-cards/money-transfers/#longYou should check your eligibility beforehand - ideally through the lender's website (where available) which is likely to give a more accurate probability than the MSE checker.
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I am applying for a balance transfer credit card and have passed the eligibility. My question is around employment details. I work full time as a contractor (same organisation for nearly 3 years) through an agency and am payrolled through an umbrella company - who is my employer? I guess the umbrella company but is that likely to cause a problem with my application? I work under my maiden name but credit application through my married name - is that another issue I should consider?0
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