Is there a CC that will allow a super balance transfer to clear overdraft?

41 Posts
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I am looking to clear approx £1000 of overdraft using a credit card which I will then clear with a 0% card

is there such a card available?


  • Ebe_ScroogeEbe_Scrooge Forumite
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    You need to look for a "money-transfer" card :
    Assuming you're accepted for one, this is probably your best bet.  2 things to bear in mind:
    Firstly, there will be a fee for doing the transfer - factor this into your budget.
    Secondly - you absolutely MUST put plans in place to clear the full balance from the card by the time the promotional rate expires.  Otherwise, any remaining balance will attract interest at the standard APR which will be much higher than your overdraft - with no guarantee that you can shift any remaining balance to another 0% card. Whether you put money aside each month into a separate account or whether you just calculate what monthly payment will be required to clear the balance by the end of the promotion, it doesn't matter.  Just so long as, one way or another, the balance is cleared.

  • edited 22 September 2022 at 3:19PM
    MarticoMartico Forumite
    383 Posts
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    edited 22 September 2022 at 3:19PM
    The other option is a 0% spending card:

    If you get one of these, you can use it for your daily spending rather than your current account, which should hopefully stay in credit once you are paid. And you'll have a given period to pay it off in full. Probably 12-24 months, depending on your creditworthiness. You'll have a minimum to pay every month, of course. Slower than an immediate transfer, as it will only displace supermarket, travel spending etc (but not DDs). So it may take a couple of paydays to clear the OD, depending on your circumstances. But it should be fee-free.

    However, it is still new debt, so be absolutely certain that you can budget well. If your finances have been weak enough to lead to a consistent overdraft, then more debt may well be the worst thing you can do. I'd prioritise writing a full and frank budget first and sticking to it, or the problem can quickly spiral.
  • edited 23 September 2022 at 12:07PM
    sourcratessourcrates Forumite
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    edited 23 September 2022 at 12:07PM
    You may be better off making an agreement with your bank to repay the OD at an affordable monthly rate, instead of trying to deal with it by further borrowing.

    Banks will suspend or stop interest if your struggling, all you have to do is ask them.

    If you have been struggling to service the OD, how will you service this new debt?

    Consolidation is rarely the answer to debt problems, it may give you temporary respite, but unless you change the way you deal with your finances, you will just end up back in a similar position 6 months from now, but with more debt that you cannot service.

    After all, if the ship is sinking, you don`t want to be making the hole in it any bigger now do you.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • JBEANJBEAN Forumite
    41 Posts
    Part of the Furniture 10 Posts Name Dropper
    Thank you all for your good advice…I will weigh up the options..
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