balance transfer deals between 2 cards

helmel_3

If you have 2 x credit cards and both are offering 0% on balance transfers can you transfer the balances outstanding on each card to the other card , thus getting 0% on all outstanding amounts?

latecomer

You might be able to but I guess it depends on the amount they will allow you to transfer and the credit limits on the cards.
For example, if you have £1,000 on both cards but they are at their credit limits then I dont see how you could do it.

I believe when you do balance transfer this is just a payment as far as the card you are transferring the debt away from is concerned. And as most cards put payments towards the debt with the lowest interest first (there are one or two exceptions) you wouldn't be able to transfer the debt with the high interest without transferring the 0% debt too.

However if you had a 3rd card then you could use that to achieve what you want.

Thats probably clear as mud but someone else will probably provide a better answer shortly

exel1966

Yes you could quite easily IF the credit limits dictate you can by having spare capacity equal to or greater than the amount you want to transfer on one of the cards so as not to push you over the limit.
If you had spare capacity on both cards you could do the BT's simultaneously, If not you have to wait until the first had been actioned before commencing the second which is probably more adviseable.
Are the two cards from the same group of companies as then you possibly might encounter problems with that idea ?

latecomer

:spam:

reported

Moggles_2

It's a great idea, but unfortunately it doesn't work with most credit cards because of the way subsequent payments are treated.

Which two cards are involved and do you have any others at the mo?

helmel_3

Cards with barclaycard and mbna - no others