Advice About Using a Credit Card

Simon22

Hi

I've just gotten my BT credit card, £11,000 limit, I want to use it to pay a tax bill of about £4k.

They are offering me interest free transfer on cash to my bank account for 13 months .
I'm thinking then to pay off the £4k tax bill I should transfer the money to my bank account first, then pay the tax bill, not pay the tax bill from the credit card correct ? Or I'm then paying interest for no reason.

Is that the long and short of it?

Also If I transferred £4k to my banka ccount to pay the tax bill, it leaves me £7k, I am thinking of transferring a £7k debt from my other credit card to the BT card as that's also interest free.

Is this the right way to go about this?

Any advice appreciated,.

jonesMUFCforever

Check the terms and conditions of the card - how much % wise is available to balance transfer? Some will allow up to 95% other might have a lower limit.

The card must be able to transfer money to your bank account for your plan to work otherwise everything is ok (apart of course your plan to repay before the rate goes up).