Another thing you have to remember is that the 0% period is likely to be 9 months or so and at the rate of £40 a month paying your overdraft off you'd be 6 months short. You'd then have to go through the balance transfer scenario again and incur a transfer fee again, but doing this time after time could also harm your credit rating. Best bet would be to call your bank each month and get them to reduce your overdraft limit by £40/50 or whatever you think you can afford, it'll be paid off in no time! Worse thing I ever did was get a credit card or loan, seem to have been paying them off forever, as you get into the habit of using money that isn't yours and promise yourself you'll pay it back when realistically you wont