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Applying for a bigger balance transfer than you need - is it possible?
lupyloo25
Posts: 8 Forumite
in Credit cards
Strange question.. i it possible to ask for more than you need as a balance transfer so that you then have extra funds available in your credit card account? I mean for example - if I have 2000 to pay off on card A, I request 3000 from card B meaning I have access to £1000 cash on card A as I would be in credit on it?
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Comments
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A lot of cards do not allow you to go into credit. Also, even if a card is in credit you will still be charged a cash handling fee if you withdraw cash at an ATM0
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And some cards will "return" the balance transfer if it creates a negative balance but you'll still end up with the 3% BT fee.
Main exception is the Egg Money card which is happy for you to have a credit balance - infact they encourage it so you're spending your own money rather than theirs. They'll allow you to withdraw a credit balance to your current account if you ask them without charging a fee or treating it as a cash advance."A child of five could understand this. Fetch me a child of five." - Groucho Marx0
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