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Q&A » Credit cards
Is there a way of consolidating one's debt on to a credit card in one's place of residence from credit card accounts in another currency (outside euro-zone) ?
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(Not talking here necessarily of special balance transfer deals, simply whether it's permissible, doable)
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879 0Thanks for your suggestion, Mike. I see that is one way of doing it. Would that (crediting the current account here and then transferring funds to settle the overseas credit card) count as a cash payment against the credit card here, which if I understand this correctly carries a punitively high interest rate?
I wonder if there's a more direct way of doing it, along the lines of the balance transfer arrangements directly linking one card to another credit card acocunt?
Posted on 27 May 2009 |
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879
83I would suggest you phone the balance transfer line for your credit card and ask. Some don't allow transfers if it's the same company but that doesn't seem likely to be an issue if it's non euro.
Posted on 28 May 2009 | Love 0 loves
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83And another thing!
What I suspect you will not be able to do is ask your Barclays/Abbey/Tesco card to transfer, say, 2,000 US dollars. You'll have to do the maths and tell them how much in GBP you want to pay. Chances are you'll be out one way or the other due to the ever changing foreign exchange rates.
Posted on 28 May 2009 | Love 0 loves
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