Juggling credit cards - advice please

PentaxWidget

Ok here is the scenario - does it work?

A small business has two credit cards and a supplier to pay:

Credit Card A is maxed out at £5000 29.9% interest
Credit Card B is maxed out at £5000 20.7% interest
Cash in bank £5000
Supplier due £5000

Instead of using cash in bank to pay supplier...

If the cash in bank is used to pay credit card A off in full (and given that the limit will be allowed to remain at £5000),

and then Credit Card B has its balance transferred to Credit Card A which is offering 0% interest on balance transfers for 12 months

and then Credit Card B is used to pay supplier

(allowing for balance transfer fee and credit card payment fee when paying supplier by credit card)

Would this save me interest on Credit Card A for 12 months or am I forgetting/missing something?

Advice appreciated.

Bob_the_Saver

PentaxWidget wrote: »

Ok here is the scenario - does it work?

A small business has two credit cards and a supplier to pay:

Credit Card A is maxed out at £5000 29.9% interest
Credit Card B is maxed out at £5000 20.7% interest
Cash in bank £5000
Supplier due £5000

Instead of using cash in bank to pay supplier...

If the cash in bank is used to pay credit card A off in full (and given that the limit will be allowed to remain at £5000),

and then Credit Card B has its balance transferred to Credit Card A which is offering 0% interest on balance transfers for 12 months

and then Credit Card B is used to pay supplier

(allowing for balance transfer fee and credit card payment fee when paying supplier by credit card)

Would this save me interest on Credit Card A for 12 months or am I forgetting/missing something?

Advice appreciated.

Unless.....
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