Free Credit Card Bonus Points

01Shaun01_2

I was just wondering if this idea would work. I haven't looked into it in great detail, but maybe someone else has and can help me?
It goes something like this.
1. Apply for a credit card which gives you a super balance transfer and 0%, and withdraw up to the limit into a high interest savings acount for later.(bear with me as this sounds similar to one of the other tips)

2. Apply for a Tesco Card or other card such as nectar which gives free points or cashback on balance transfers. (this was the bit I'm not sure about, as I don't know which companies give points/cashback for balance transfers)

3. Use this card to pay off the first card, and receive the points/cashback.

4. Repeat 2 and 3 as many times as possible until it is no longer financially viable.

5. Pay off the final card with the money in the savings account.

At each stage you should be able to make between £10-£100 depending on the deals and fees. And all the time your savings are making money too!!
Is this a viable plan? ???

Reaper

3. Use this card to pay off the first card, and receive the points/cashback.

This is where the plan falls down. You don't earn points on Balance Transfers.

I say that but come to think of it I dimly remember that the Co-Op Travel Credit Card might allow it. You could check.