O/D transfer to credit card with 0%

[Deleted User]

Hi,

Is it possible to get a credit with 0% balance transfer for the purpose of transferring my overdraft which stands at around a £1000?

Cheers.
David

belfastgirl23

The virgin CC will balance transfer money into your current account for a BT fee of 2.98% and it's 0% for 15 months

TheKnapp

This is exactly what I want to do, but if you can have BT into your current account then that is effectively a 0% loan (apart from the fee, of course). Why in that case wouldn't everyone do this & put the money into a higher interest account, make some free cash & pay back the origional amount at the end of the interest free period??

CLAPTON

TheKnapp wrote: »

This is exactly what I want to do, but if you can have BT into your current account then that is effectively a 0% loan (apart from the fee, of course). Why in that case wouldn't everyone do this & put the money into a higher interest account, make some free cash & pay back the origional amount at the end of the interest free period??

people do... its called stoozing

belfastgirl23

TheKnapp wrote: »

This is exactly what I want to do, but if you can have BT into your current account then that is effectively a 0% loan (apart from the fee, of course). Why in that case wouldn't everyone do this & put the money into a higher interest account, make some free cash & pay back the origional amount at the end of the interest free period??

Done to quote Gordon Ramsey...

Moggles_2

A handful of rather special cards will allow you to transfer an overdraft to them, in other words, transfer cash from the credit card to your current account:

A card issued by MBNA (e.g. Alliance & Leicester, MBNA itself, Sony, Virgin) Egg Card or the Post Office card

Alternatively, you can use Egg Money (not to be confused with the Egg Visa card) in conjunction with any low-rate balance transfer card.

Mint periodically issues credit card cheques, which can be paid directly into your current account