Balance Transfers

DebDub

I wonder if someone can help me on this; I have 2 balances on each of 2 credit cards. Both cards are offering similar balance transfer deals offering 0% interest for x months. Can I transfer the balance of one card to the other, and then the entire amount back to the original card, thus benefiting from the 0& interest on the full amount? (I am aware I need to consider the transfer fees). Thank you

chanz4

yes you can, do the transfers 2 days apart though so that it works.

mustmakealist

Why not try to transfer the balance on card A to card B and the balance of Card B to card A at the same time and if the limits allow. This would mean that you should pay less than transferring the balance on Card A to card B and then the new balance on card B back to card A (if that makes sense to you

DebDub

Thank you both; yes, I was worried about doing both at the same time because of how long the transfer officially takes and then the rules of paying of existing balance before paying off transfer. I will try with leaving a few days in between.

Thank you

DebDub

Ok, how about this one; one of the balances is for a holiday. The cost paid is covered under the "purchase protection" that one receives on credit card purchases. If I transfer these funds, (or indeed, pay it off before my holiday), am I still covered for those monies should the holiday co. go bust?? :huh:

YorkshireBoy

DebDub wrote: »

Ok, how about this one; one of the balances is for a holiday. The cost paid is covered under the "purchase protection" that one receives on credit card purchases. If I transfer these funds, (or indeed, pay it off before my holiday), am I still covered for those monies should the holiday co. go bust?? :huh:

Section 75 protection rests with those initially providing the credit for the purchase.

However, are you sure you're protected? Many purchases through travel agents aren't. Additionally, if you've assembled your own 'tailor made' package then you won't be covered under section 75 for all elements should one of the providers go bust.

DebDub

Thank you Yorkshire Boy