Hi all
Apologies if this is a silly question, I'm just not great on banking charges etc.
I have a overdraft facility on my current account which I currently have never used but is quoted as having an overdraft rate of 12.2%.
My credit card is in the red and the statement says that my Rep APR is 24.5% (monthly 1.52% on purchases).
Does it make financial sense for me to move my debit balance from the credit card to the current account? Rates seem to make sense but not sure if I am understanding the differences correctly.
Thanks!
Apologies if this is a silly question, I'm just not great on banking charges etc.
I have a overdraft facility on my current account which I currently have never used but is quoted as having an overdraft rate of 12.2%.
My credit card is in the red and the statement says that my Rep APR is 24.5% (monthly 1.52% on purchases).
Does it make financial sense for me to move my debit balance from the credit card to the current account? Rates seem to make sense but not sure if I am understanding the differences correctly.
Thanks!