Balance transfer of loans to a credit card

will162

Hi

I have debt in the region of £9,500 which consists of a CDL with about £2,500 to pay off, a personal loan of £4,500 to pay off and an overdraft of £2,000. Is it possible to transfer these debts onto a 0% credit card? Or can you only balance transfer credits card debts that you have?

Many thanks

Will Mallett

YorkshireBoy

For the basics:
http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#MBNA

For a little more detail:
www.stoozing.com

NickX

This can only be done with a few rather special cards.

They are the cards with the so-called SBT (Super Balance Transfer) facility which means funds can be transferred directly to a Bank Account.

These include Egg, Egg Money and any card adminstered by MBNA (including the Virgin range of cards).

In addition MINT periodically issue Credit Card cheques that can be paid into a Bank Account at Balance Transfer rates. However, this is the least satisfactory option because the cheques cannot be ordered and unless you already have them, you don't know precisely when they will drop though your letterbox.