Balance Transfer (With Cash Advance)

Logical · 22 March 2011 at 1:20PM

Hi There,

I Currently have £700 on Credit Card A, but wish to buy £1000 of foreign currency with this card this will cost me a total of £45 to do this with the card fees and purchase fee.

I have just been approved for another credit card which has a balance of transfer fee of 3% but then the interest is free for 20 months.

Question:

If I purchase the foreign currency with Card A It will be classed as a Cash Advance, Will this also be classed as a Cash Advance when I transfer the total amount on Card A across to Card B or will Card B just see it as a whole balance transfer? Or will they see it as £700 Normal Balance and £1000 Cash Advance?

Im aware that It will cost me £45 for the foreign currency and it will also cost me £52.35 to balance transfer but these costs far out way the money I will save on interest payments because I will have the entire balance paid of before the 20 months..

All answers and Advice appreciated..

Many Thanks