Heather M
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Yes, I used to work in a bank and it was quite common practise. You should just make sure the credit card interest rate is lower than your overdraft. |
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binarywoman
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You could probably pay it off with a balance transfer from your credit card.
The real question is, how much interest are you being charged for the overdraft and how much will you be charged on your credit card. Some credit cards charge over 30% interest. |
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just trying to make a difference
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it can - but it doesn't sound like a good idea!
why not speak to The Consumer Credit Counselling Service (CCCS) who is a registered charity - their purpose is to assist people who are in financial difficulty by providing free, independent, impartial and realistic advice http://www.cccs.co.uk/ |
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Fox Hunter
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yes but they will charge you ..... |
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alatoruk
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yes, although your credit card company will treat it as a cash advance, so you will pay a handling fee and interest from day 1 |
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ian4u1962
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yes with a credit transfer |
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Dickie
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corse you can, with a credit card you can do what you want,the world is your Lobster |
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isaulte
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If you withdraw the cash on a credit card you normally have to pay a fee of between 1.5% and 2.5% on top of the interest.
You could do it on a "free balance transfer" option, or speak to your credit card people, but don't withdraw the cash! |
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scottsmylie
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Yes but it will cant as a cash advance. I wiould find another way. |
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Foo
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yes, bad idea though. The rate of interest with a cc is much higher. I'd try and pay your cc off with an overdraft then work at reducing that debt. |
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ξήĢŁĭŞĦ ŗǾşξ ©® ღஐღ
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if you withdraw the cash from your credit card cash point & pay into your overdraft account |
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