0% query on existing balance

DebtFree2012

Hi all

I have 7k on card that had interest applied monthly. They offered me 4k 0% which I took to pay another card off.

So 7k with interest applied
4k at 0%

balance of ~11k

Offered me another 1k at 0% which I BT my bank (minimal charge) and paid straight back to card which they apply to the highest interest part of balance (7k)

Now as I have paid it back they are offering it to me again....do I keep doing it until my whole balance is 0%? It's not increasing my balance as the interest would have been higher than the charge for BT.....and essentially I can't see why I wouldn't have my whole balance at 0%?

Anyone experience with this - thanks.

cwal

Hi, I have done this with cards in the past too, used a balance transfer to put the money in to my current account and then transfered this straight back to the same card to pay of the balance with the higher interest rate, no one has ever said anything yet!
Good luck with it.

DebtFree2012

Thank you for your reply - I did wonder if I was missing something as it seemed a bit TOO obvious!

I guess that they hope ppl don't have the will power to use it to pay straight back?

Little_Miss_Uni-Debt

Don't forget to take the BT fee into account!

DebtFree2012

Yes I have done that, it's less than the amount I would have been charged in interest

Thank you though.