Credit on Credit card and getting the cash

nelson182

Hi,

I am looking to complete a balance transfer from a promotional card to card with some debt on. However I may make a few more purchases in the future and thought, I may as well make the most of 0% deal.

Am I able to transfer forexample £1500 and of that pay off the £800 debt on the card, therefore leaving the card £700 in credit to spend for other things?
Alternatively will they write me a cheque for the credit difference.
The reason I am doing it this way is that the 0% promotion does not apply to balances transfers to current accounts :-(

Any help would be great!

Dabooka

It's my understanding they won't transfer more than the balance. You're only option as a super balance transfer isn't available would be make the purchases on the new card and trannsfer the whole amount.

If I'm wrong, someone will pop along in a minute and let you know!

mjm3346

Check if the terms and conditions on the receiving card allow it to be in credit.

lisyloo

Most cards won't allow you to go into credit.
If it happens accidentally they will send the money back.
They might return it to your bank account, which might be what you want, but they might send it back from whence it came.

If you repeatedly offend agaisnt the terms and conditions then they might close your card.