Using a 0% MBNA credit card to clear overdraft


I have a problem with debt and Im trying to work out the best way to begin clearing it. The most expensive debt I have is a Lloyds overdraft of 2000 which costs me 61 in fees per month. Thats before I start paying it off.

Using the eligibility credit card calculator I found an MBNA card I was eligible for and their pre-approval system said I would be able to have 15 months 0%. When I did the final stage of the application it said 7-10 days for a decision – is this common? What will be the outcome? I havent even had an email to confirm my application.

Also I am stupid to then use this credit to pay for everything for a few months allowing my salary to build up in my account clearing the overdraft? I recently got a pay rise and genuinely believe I could clear the card before the 15 months are up. It also seems better to be paying off a debt instead of just covering the charges.



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