Can I transfer a £3000 overdraft onto a credit card?

jamie_welch

Basically I am overdrawn by £3000 and since reading some of these articles I have a brainwave!!

Can I transfer this £3000 onto a 0% interest credit card?

If so I can pay it off monthly without incuring the £40 interest charges and £15 penalty charges per month on my current account??

Can anyone help as all I keep reading is how to transfer debts from 1 creditcard to another. Will this work for an overdraft??

Thanks to anyone who can help

PParka

You can use a Virgin Credit card to do a balance transfer directly to your current account. This would clear the overdraft. There's a balance transfer charge of 2.98%. (i.e. £89.40 on £3000) Then it's interest free for 15 months.

This might be worth a look.