Having trouble with SBT

Morna_Fleming

I recently booked a holiday on my Switch card which pushed me into overdraft. After reading the article on SBT's on this site I decided it would be a good idea to transfer this debt on to a credit card. Abbey was listed as one of the banks who did SBT's but when I rang to check (after running into difficulties when applying online) they told me that they only do balance transfers from credit cards and not from overdrafts. I'm not very financially astute so I'm wondering if I've misunderstood the article. Has anybody out there managed to transfer debt from their bank account to a credit card?

YorkshireBoy

There's a lot of confusion around at the moment with the MBNA family of cards, eg MBNA, Virgin, A&L, & Abbey, with regard to whether they will or won't now allow SBT's - I believe they all did previously.

There have been a couple of posts recently (perhaps you could search?) where it "appears" you can use the MBNA family credit card cheques to pay money to yourself. These "appear" to offer 0% for 9 months, but all have a fee for their use - typically 2% and capped at £35-50.

If you didn't get as far as registering/completing your online application with Abbey, it might be an idea to ask the other brands what their policies are on "transferring an overdraft debt" to their cards - maybe one of the others will allow it?

Please post back with any information you have (and do your own research - don't base any decisions/applications on what I've said here).