using cheap loan(s) to pay off expensive overdraft

bbq1

Barclays charge me 3.75% over base rate (an effective rate of 8.50%) to cover an overdraft of £25 K. Would it be feasible to use plastic to repay this hefty charge?? There must be many small businesses out there who would be interested in hearing what alternatives there are to being in hock to their bank. ??? ???

Robert_Sterling_3

Spend an hour or two reading about Balance transfer, 0% interest on BTs and on Purchases for from 5 to 18 months. Super Balance Transfers. Low APRs for life etc.
It could be time well spent. It won't solve all of everyone's problems but it can make a lot of difference.

deemy2004

Hi

I am continiously rolling over a debt of £19k on credit cards interest free. It does take some effort, planning an discipline but if I can do it then so can YOU !

On a 25k bal transfers at 0%, you would save over £2k per year in interest payments !

zcaprd7

Yep - check out the stoozer threads - at first you'll think "this doesn't apply to me" but it does...

...whereas they make a few quid saving the money you'll make (save) a lot more not having expensive debt.