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Using credit card to get out of overdraft

I posted this in the current account section as well, as I wasn't sure which area would be most appropriate. To cut a long story short, I had to go into my overdraft facility to the sum of £2500, and I want to change this type of debt into another type, as it is doing my head in to try and sort out my finances when I don't really know what I have and don't have.

One way I thought was to use a new credit card with 0% balance transfer to pay off the overdraft and then repay the credit card debt with a standing order. Is it possible to use the balance transfer deal on credit cards to pay off an overdraft facility and how would I go about doing this?


Thanks

Ma_ya

Comments

  • ltm07
    ltm07 Posts: 966 Forumite
    Hi. It depends who the CC is with. You can pay half of your credit card limit into a bank account with Mint. Please hang around for other advice though,as others will be able to advise better than me. Mint currently doing a 0% offer so you could go with these. Good luck.
    Debt at LBM(July 1st 07)-£35,053.92 Debt on 1st Anniversary of LBM(July 1st 08)-£33,170.11 (31st January 09)-£32,318.73Paid off so far £2,735.19(7.8%) Average paid off p.m. £143.95 L/H supporter 115 DFD target February 2018 DFD March 2028. PAD(Started 28/12/08) £253.77 £10 a day Feb £110/£280 WEDDING Paid off £1,585.96 Saved Up £925.40
  • RAS
    RAS Posts: 36,206 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    if you are in credit at the beginning of the month, you could also get a 0% OD with the Alliance and leicester?
    If you've have not made a mistake, you've made nothing
  • poppyg_2
    poppyg_2 Posts: 322 Forumite
    Any cards with MBNA allow you to transfer balances from current account, my OH has just done the same thing to swap his o/d
    Money doesn't make you happy so I'm skint but cheerful :beer:
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