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  • FIRST POST
    • Shaunyboy87
    • By Shaunyboy87 12th Jul 17, 7:24 PM
    • 1Posts
    • 0Thanks
    Shaunyboy87
    Card shuffling between two accounts
    • #1
    • 12th Jul 17, 7:24 PM
    Card shuffling between two accounts 12th Jul 17 at 7:24 PM
    Hi,

    I am aware of credit card shuffling to reduce interest, however i was wondering if there are rules on shuffling between cards after transfers have been applied.

    Example (excuse dollar sign, no pound sign on keyboard):

    $6,000 on card A at 10% with limit of $8,000.
    $8,000 on card B at 20% with limit of $10,000.

    Card B are currently running a promotion.... Balance transfer of 7% for 5 years with no handling or transfer fees.

    Can I transfer $2,000 from card A to card B to receive the 7% interest, leaving $4000 debt on card A.

    The question is whether or not I can then transfer $4,000 from card B back to card A to reduce the interest from 20% to 10%.

    Will the transfer come from the money with the 7% interest rate or from the one with 20% interest rate. Or does the transferred money have to remain in the account for a minimum amount of time?

    Hopefully that makes sense.

    Cheers.
Page 1
    • Abbey1991
    • By Abbey1991 12th Jul 17, 7:43 PM
    • 53 Posts
    • 10 Thanks
    Abbey1991
    • #2
    • 12th Jul 17, 7:43 PM
    • #2
    • 12th Jul 17, 7:43 PM
    Probably Card B will not let you transfer more than 95% of the limit

    I guess the tranche of borrowing that you transfer from B to A will depend on their T&C but expect the outcome least favourable to you until you are sure.

    They probably don't know or care that it is the same money you are moving between B and A, unless you make a large number of suspicious transactions.
    • zx81
    • By zx81 12th Jul 17, 8:03 PM
    • 12,678 Posts
    • 12,936 Thanks
    zx81
    • #3
    • 12th Jul 17, 8:03 PM
    • #3
    • 12th Jul 17, 8:03 PM

    I guess the tranche of borrowing that you transfer from B to A will depend on their T&C but expect the outcome least favourable to you until you are sure.
    Originally posted by Abbey1991
    No need to expect the worst. The highest rate balance will be moved.
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