Trying to clear debts taking advantage of 0% offers

[framboise]

Hi

 

OH is trying to sort her debts out (like me) and thought of taking advantage of 0% offer that Natwest offered in order to clear her overdraft on a bank account which is costing a lot of money - this will give her 8 months or so to get the debt cleared and will mean no interest in the meantime...

 

Natwest said that if it is to be transferred to a bank account this will cost so the 'very helpful' telephonist suggested why not transfer the money to an emptied CC and then transfer it from there to your bank.

 

Hey great idea we could use Barclaycard account for this as it currently has a zero balance! - I know this all sounds a bit complicated but to save literally £100s, why not?!

 

Anyway things are not always what they seem because phoned Barclaycard and said we'd like to transfer this credit into bank account and oh dear 'computer says no' ! 'you don't have enough of a credit limit to do this madam!' EVEN THOUGH THE MONEY IS THERE!!!

 

Several angry phonecalls later and saying that she'd like to close the account, Barclaycard have said they will call back several times and don't. this matter is also being investigated by the fraud team we have been told.

 

We now have a positive balance in a credit card and need to find creative ways to spend the money so that we can release funds from our monthly outgoings to pay off expensive debts!!

 

If we close the account will they be obliged to send us a cheque?

 

We are very angry! any ideas anyone ?

 

Framboise

[Pinky69]

Sorry - Natwest advised you to transfer a balance from some account with a 0% rate into a credit card that had a zero balance then transfer it back to another Natwest account that was overdrawn? I don't think so.

[hungrybear]

natwest said it would cost a lot of money to transfer money from one account to another - have you been on the sherry?

[framboise]

ok I can see how it reads...

 

another go...

 

got an overdraft with lloyds bank (around 19% APR)

 

barclaycard CC zero balance, Natwest CC zero balance

 

Natwest offer 0% credit for 8 months but wont allow you to transfer it to a current account so they suggest to transfer it to Barclaycard and then from Barclaycard to Lloyds to clear overdraft.

 

Now Barclaycard have the money and wont transfer it anywhere or send us a cheque!!

 

Thank you for looking in anyway, sorry it was a bit of a strange one!!

[framboise]

She now tells me she's sorted it out!!!

 

Thanks for looking in anyway!