I owe money on my old bank account. I have a new account with another bank that is going well. Can I pay off the old account using one of those credit cards that offer 0% interest for 12 months?
2006-10-16 10:34:53 · 11 answers · asked by Ian M 1 in Business & Finance ➔ Credit
The balance transfers are normally for credit cards bills. Never, ever ever spend on a credit card that you've taken out a balance transfer offer with and never, ever use it to draw out money. None of this, ever comes under the terms of the offer.
If you want to transfer debt, I would phone up the bank and see what they can do for you.
2006-10-16 11:15:17 · answer #1 · answered by little_jo_uk 4 · 0⤊ 0⤋
No i don't believe it is possible but one way of doing it would be to take a cash advance from the card and put the cash into the bank with which you hold the overdraft. You clear the overdraft but still have to pay the money back through the credit card.
2016-05-22 07:16:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes you can. Check with the bank first, some banks class this a balance transfer. Other banks will class it as a money transfer, either way they will charge you for this service. Whatever you do don't take money from a cash machine as you will have to pay back interest and you will get charged from the day you take the money out until the day you pay it back, they will also charge you a fee for withdrawing money. I found this out today as I wanted to do the same thing. This information is correct as I had it written down from a conversation with a customer service advisor earlier today. Hope it has helped.
2006-10-16 13:29:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You wont do it as a balance transfer, but they might let you "pay yoru bill" with a credit card. usually the 0% offers are for balance transfers.
2006-10-16 11:23:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
My credit cards keep sending me 'convenience checks'. I suppose you could use them to pay off the old account. I wouldn't recommend it. They are usually treated as cash advances.
2006-10-16 12:01:11 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
sure you can, but first talk to your old bank reg your debt , they are pretty understanding , make up a low payment plan, and intrest. they will probally help you out as much as possible, if you start fliping money back and forth you might get messed up with your payments and start the hole cycle all over again .good luck with it anyways..Dave
2006-10-16 10:45:24 · answer #6 · answered by COSMO 4 · 0⤊ 0⤋
Not to my credit card, you can't!
Seriously the answer is YES and do it soon to save dosh BUT then tear up the card and DO NOT USE IT AT ALL
2006-10-16 11:51:51 · answer #7 · answered by crucialmusic2000 2 · 0⤊ 0⤋
Sorry i don't have the answer but try www.moneysavingexpert.com (English site). It's the money expert from Radio 2. It's a really useful honest website. You should find the answer here! Good luck.
2006-10-16 10:39:10 · answer #8 · answered by Steven S 3 · 2⤊ 1⤋
Each bank has a private procedure,so you should go to your bank to know what you want to do .
2006-10-16 10:50:09 · answer #9 · answered by abotraka777 3 · 0⤊ 0⤋
I dont see why not
they want their $ anyway they can get it I would think
2006-10-16 10:42:18 · answer #10 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋