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Barclaycard loophole questions
bay24
Posts: 1 Newbie
in Credit cards
Hi this is my first post so be gentle.
My wife has a Barclaycard with £6000 on it (joint debt) and I have room on an HSBC CC and a virgin card to put the balance in the short term (these do not have any promo rates at the moment: HSBC hasn't for a long time and virgin has recently stopped giving me 6months interst free instead offering 10% on balance transfers for a year which is not great).
From this it seems We could do the barclaycard loophole but I have some questions:
1. The offer is not on her online account so does this mean she would not be eligible or is it just because she is near her limit that it does not come up?
2. If I transfer the money out could they just close the account leaving me with big debt and rubbish rates?
3. Could she phone up and ask about this rate or will this alert Barclays that she will transfer money out and back to the account so refuse the transfers back?
I hope these questions make sense.
Any help would be great.
My wife has a Barclaycard with £6000 on it (joint debt) and I have room on an HSBC CC and a virgin card to put the balance in the short term (these do not have any promo rates at the moment: HSBC hasn't for a long time and virgin has recently stopped giving me 6months interst free instead offering 10% on balance transfers for a year which is not great).
From this it seems We could do the barclaycard loophole but I have some questions:
1. The offer is not on her online account so does this mean she would not be eligible or is it just because she is near her limit that it does not come up?
2. If I transfer the money out could they just close the account leaving me with big debt and rubbish rates?
3. Could she phone up and ask about this rate or will this alert Barclays that she will transfer money out and back to the account so refuse the transfers back?
I hope these questions make sense.
Any help would be great.
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