Can I balance transfer credit cards and my overdraft onto a new 0% credit card?

eskbanker

kaka-e said:

I feel that it would be easier to keep on top of fewer payments, as I'm having to be aware of when the interest free period expires on four cards at the moment.  The plan is to cut up the old cards so I don't have access to them

Oh right, you hadn't mentioned that your current cards are all 0% ones, so that's definitely a better starting position, but how much is the overdraft, as that ought to be the priority?  Presumably the four card deals aren't all coterminous so you may have more time to shift some of the current balances?

kaka-e

So I've only got £500 on my overdraft which isn't huge in the grand scheme of things, I think it's more psychologically that I'd like to not be overdrawn for the last half of the month as it's disheartening.  I have two credit cards coming up to the end of the 0% period at the end of November, the others are ok for a while yet.  Basically I added up all my debt, gave myself a complete shock and have decided to get my finances in order.  Currently writing down my entire spend to see where it's going and to look at any subscriptions that I have coming out that could be cancelled

flaneurs_lobster

vacheron said:

kaka-e said:

Thanks, so I would need to have two cards, one money transfer and one balance transfer.  Is it possible to pay into my bank account from a credit card?

Some cards offer both, but generally not both on a promo (like a 0% fee or something), however, one way to do this is to buy something expensive that you (or a friend or familty member) needs on your old card before you do the balance transfer, and then have them pay you back in cash which you can then use to pay down the overdraft.

OP hasn't mentioned the interest free period they need but Virgin have 13 months balance and cash transfer and no transfer fee. Eligibility checker on the MSE site

https://www.moneysavingexpert.com/eligibility/credit-cards/search/?selectedProductId=CC_Virgin_BalanceTransferAS1188T1&goal=CC_BALTRANSFERV2

kaka-e

The longer the interest free period the better.  13 months would be too optimistic for me to pay the whole balance off, but I could look at transferring the remainder again afterwards I suppose

kaka-e

Thanks everyone for the advice