| Overdraft Balance Transfer [message #383659] |
Fr, 28 April 2006 16:29 |
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Hello
I've just got a new Capital One card, with 0% on transfers until Aug 2007.
Ideally, I'd like to transfer my overdraft onto it. Capital One have said I
can't do this, but I'd like to do it one way or the other.
I'm wondering if I should take cash out of the cashpoint on another credit
card, pay it into my current account to clear the overdraft, then transfer
the balance from that card onto the new one.
Does anyone see anything wrong with me doing this? I know there'll be a
charge for drawing cash on the credit card, but I think it'll still be worth
it.
Any pointers appreciated.
--
Talent hits a target no one else can hit. Genius hits a target no one else
can see.
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| Re: Overdraft Balance Transfer [message #383661 ] |
Fr, 28 April 2006 18:11 |
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"-=D [at] n=-" <getbent [at] ease.com> wrote in message
news:4ben6mF116u2uU1 [at] individual.net...
> Hello
>
> I've just got a new Capital One card, with 0% on transfers until Aug 2007.
> Ideally, I'd like to transfer my overdraft onto it. Capital One have said
> I can't do this, but I'd like to do it one way or the other.
>
> I'm wondering if I should take cash out of the cashpoint on another credit
> card, pay it into my current account to clear the overdraft, then transfer
> the balance from that card onto the new one.
>
> Does anyone see anything wrong with me doing this? I know there'll be a
> charge for drawing cash on the credit card, but I think it'll still be
> worth it.
>
> Any pointers appreciated.
>
How big is your overdraft? And your monthly spend?
If for example your monthly spend was £1000 and your overdraft £3000, then
for the next 3 months, buy as much as possible on credit card, then xfer the
credit card balance to the capital one card and use the money you would have
paid the c card off with to reduce the overdraft.
--
Tumbleweed
email replies not necessary but to contact use;
tumbleweednews at hotmail dot com
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| Re: Overdraft Balance Transfer [message #383673 ] |
Fr, 28 April 2006 20:13 |
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"-=D [at] n=-" <getbent [at] ease.com> wrote in message
news:4ben6mF116u2uU1 [at] individual.net...
> Hello
>
> I've just got a new Capital One card, with 0% on transfers until Aug 2007.
> Ideally, I'd like to transfer my overdraft onto it. Capital One have said
> I can't do this, but I'd like to do it one way or the other.
>
> I'm wondering if I should take cash out of the cashpoint on another credit
> card, pay it into my current account to clear the overdraft, then transfer
> the balance from that card onto the new one.
>
> Does anyone see anything wrong with me doing this? I know there'll be a
> charge for drawing cash on the credit card, but I think it'll still be
> worth it.
>
> Any pointers appreciated.
>
Egg allows overdraft balance transfers. Then just transfer Egg balance to
Capital One.
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| Re: Overdraft Balance Transfer [message #383684 ] |
Fr, 28 April 2006 22:11 |
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"-=D [at] n=-" <getbent [at] ease.com> wrote in message
news:4ben6mF116u2uU1 [at] individual.net...
> Hello
>
> I've just got a new Capital One card, with 0% on transfers until Aug 2007.
> Ideally, I'd like to transfer my overdraft onto it. Capital One have said
> I can't do this, but I'd like to do it one way or the other.
>
> I'm wondering if I should take cash out of the cashpoint on another credit
> card, pay it into my current account to clear the overdraft, then transfer
> the balance from that card onto the new one.
>
> Does anyone see anything wrong with me doing this? I know there'll be a
> charge for drawing cash on the credit card, but I think it'll still be
> worth it.
>
> Any pointers appreciated.
>
> --
> Talent hits a target no one else can hit. Genius hits a target no one else
> can see.
Agreed, open an egg money credit card account, balance transfer to that,
then pay your overdraft.
mrcheerful
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