New here- need some advice

claret24

Hi all new to this site so I hope I am posting in the proper forum.
I need some advice- I am a student in my final year and I have built up some debt on credit cards (nearly £2000 ) I have always paid the minimum amount each month and I have made balance transfers to cards with 0% interest for 12 months..... but im just wondering would I be better off going and opening a bank account and taking out an overdraft and paying off what I owe on the credit cards??? Halifax offer an interest free overdraft for students until after the 1st year as a graduate. I already have an overdraft of £2000 with a bank.
Any help or advice would be appreciated

tylersbabe

Hi
not sure if I should be doing this but........ BUMP

Hope this is ok but did not want this thread to get lost yet!!

Sassamac

in terms of what it costs / how long it takes to pay off, if they're both 0% it makes no difference. The overdraft will last you a bit longer, but theres nothing to stop you continuiing to juggle 0% CC's.
Its a case of pyschologically what is better for you. Remember though, you can pay the CC off with an overdraft, but cant pay the OD off with a CC. So keeping it on the CC keeps your options open, having it on an OD corners you.

anniecave

I believe you can only have one current account with an overdraft at a time while you are a student, so you wouldn't be able to get a second one. Even after you graduate and are working, unless you have more than one source of income, again I would think you can have more then one.

Have you taken your max of student loans? Considered getting a part time job?

bountiful

student board might be more helpful? bump