withnail:

I have looked on the credit card comparison on this site and it looks as though there are more than just the Virgin card that has 0% over 16 months, or am I wrong ?

Well I can only see one. Whether you can see more I cannot say but here is something else to make you think....

http://www.dailymail.co.uk/money/article-1208402/Tough-times-0-rate-tarts-good-deals-credit-cards-dry-up.html

This is not a criticism but except for the pending pay rise I think you are just manageing. It's good that you are determined to pay down the balances but I question whether just shifting the debt, at least initially, is the best way forward. If it works it works, but plenty have tried and fallen foul of missing a payment by just one day and losing the 0% on the BT card.

Why not just start paying off the balances with your £80/month?

The debt was initially a £300 cash on the credit card and has grown over the last 2 years. The overdraft was two large car expenses that were unforseen in an already tricky financial year. I want to pay the debt off in the next twelve months so I do actually want to be repaying it. I can cover £80 per month as I am getting a pay rise next month. I don't need to use the card again and I will have the income to ensure that I can manage comfortably on what is left and be able to create a contingent fund for my increasingly unreliable car!

I have looked on the credit card comparison on this site and it looks as though there are more than just the Virgin card that has 0% over 16 months, or am I wrong ?

withnail:

Is this a good idea?

Well it depends entirely whether you can afford the monthly payments involved in paying off the 0% card over 12 months, that's over £80/month. I assume it's a Virgin Credit Card because that's the only 16 month 0% BT card on the market. So even if you pay nothing extra off you have a minimum monthly payment of £25. That may be more than the minimum monthly payment you are subject to at the moment. Of course you would be paying off the balance but how did the existing balance build up?

So I can't totally answer your question due to a lack of information.

This is a debt test question, isn't it?

It might turn out to be academic anyway since thanks or no thanks to enhanced credit reporting Virgin are wised up to reject applications made just for the 0% BT.

If possible - It would be more to your advantage to directly balance transfer the overdraft onto the 0% credit card, otherwise you will be paying a cash handling fee for drawing cash to clear the OD and the highest cash APR%, as is usually the case.

I am considering sorting out a small debt by putting it all on a credit card with 0% for 16 months. I have £350(20%) on a current credit card and and overdraft of £650(18%). I propose to cover this overdraft debt with cash from the existing credit card, then transfering the entire debt to a credit card at 0% for 16 months and paying it off across a year with a standing order. Is this a good idea?