Abusing a balance transfer to my benefit?

andy.m_2

I am about to do a blance transfer, unfortunately we have had to dip into the overdraft over the summer with days out for the family etc.
If I balance transfer the £800 I need, plus another £300, then will my credit card show a positive balance of £300?
At which point I will shut down the card and receive a cheque I assume.
This will then be paid into the account and overdraft can be cancelled.
I know that there is possible more efficient ways of doing it but at 2.9% the simplicity is great for me.

Have I misunderstood and made an error of judgement?

Any

Which card are you talking about?
Most of them do not allow credit balances... they can either bounce it back to where it came from, send it to your bank (unlikely) or let it sit there until it is spent...

Great risk if you ask me...

sharpy2010

Or they'll assume that you're money laundering and make it very difficult for you to get it back.