balance transfers

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pjdavis316
pjdavis316 Posts: 2 Newbie
in Credit cards
Hi, I have two credit cards one that i use for purchases (lloyds) and one for balance transfers (barclaycard), the one that I use for balance transfers is about to come to the 0% period and I still have a balance on it. My lloyds card has a balance on it also. My plan was to transfer my barclay card onto my loyds to create one lump sum, and then transfer it all back onto my barclaycard with a 0% offer. is this possible ? Thanks.

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  • StopIt
    StopIt Posts: 1,470 Forumite
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    The one snag is that Lloyds may treat the balances separately, meaning when you go to transfer it back to a new 0% offer, it may have to be transferred in chunks, making 2 balances anyway.


    Consult both banks first, and ask that this would be OK. It should work so long as the Lloyds card accepts balance transfers still.

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  • pjdavis316
    pjdavis316 Posts: 2 Newbie
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    Ok thanks, Lloyds offer me a balance transfer with a small % fee. I was just unsure if there was a time scale where you couldn't transfer it back out to another card.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    The time scales depends on the BT offer terms of the other card, not the one the balance is sitting on.
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
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    If Lloyds are offering a 0% promotional BT with a small fee - it would be pointless transferring all of it straight back to BC without making the most of the deal. Just transfer the purchases balance back to BC.

    If it's not a promo offer then of course move it all back ;)
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