Balance Transfers

lobon68

Evening All.

Was after some advice on doing a balance transfer. I have a £4k balance (£9k limit) on my barclaycard and am paying high interest, however they are offering me 6.9% BT offer for the life of the balance if I do another BT. Is it possible to do a £4k BT from that card onto another credit card with a zero balance and then transfer that credit balance back onto my barclaycard, due to the new rules this money will pay off the £4k at high interest and leave me with £4k at 6.9% for the life of the balance.

Will this work??

Cheers

Curr946

In theory yes, but BC may note that your "at it", though not sure what they could do about it.

But, you may want to leave some of the balance on the 0% card and try clearing that amount before the offer ends.

[Deleted User]

if should work but will cost around £240 in fees

thenudeone

yes but there will be two sets of fees; some interest on the other card, and a risk that BC could reduce your limit before you transfer it back.