Overdraft to Credit Card

jaymaster12

Hi

I am £1500 overdrawn in my lloyds tsb account is it possible to transfer this to a credit card to pay off?

If not i was thinking of a credit card with ccc at 0% do they exsist?

Many thanks in advance

skyrider007

Yes it is possible. You can do anything with your overdraft money. Just make sure you don't go over the limit and watch out if your O/D interest rate is high.

Better do a balance transfer to a 0% card IMO.

NickX

jaymaster12 wrote: »

Hi

I am £1500 overdrawn in my lloyds tsb account is it possible to transfer this to a credit card to pay off?

The facility of transferring a balance from an overdraft (or Bank Account) to your credit card is known as SBT (Super Balance Transfer)

Only a few special credit cards have this facility. These include cards issued by Egg (including the very useful Egg Money), MBNA (including the Virgin range of cards) and the Post Office card.

MINT also periodically issue Credit Card cheques that can be paid into a Bank Account at Balance Transfer rates, although this is the least satisfactory option because you cannot request the cheques and you don't precisely when they will drop through your letterbox.

BenL

MBNA mailed me today with an offer for this. 3% fee and 0% to bank accounts until May 2009.

It was a MBNA platinum plus mailing.