Credit Card Double Shuffle, possible?

GMT80

Hi there

New to the forum and sorting my finances, any help massively appreciated.

Here's a question

Say I have 2 credit cards both with a £5000 limit, both with £2,400 on each. Both card companies have said they'll except balance transfers from other cards at the same special rate.

Is there anything to stop me from transferring the balance from card A to card B ( 50% at special rate) and then the whole new balance of card b (£4,800) back again to card A so that 100% of the debt is then at the reduced new special rate??

Or to ask in a slightly different way is there anything to stop you from transferring money off a credit card and then back onto it again to obtain a reduced rate?

Many thanks

G

sfax

GMT80 wrote: »

Here's a question

Say I have 2 credit cards both with a £5000 limit, both with £2,400 on each. Both card companies have said they'll except balance transfers from other cards at the same special rate.

Is there anything to stop me from transferring the balance from card A to card B ( 50% at special rate) and then the whole new balance of card b (£4,800) back again to card A so that 100% of the debt is then at the reduced new special rate??

Or to ask in a slightly different way is there anything to stop you from transferring money off a credit card and then back onto it again to obtain a reduced rate?

Many thanks

G

Nope. I do this all of the time. As long as the 2 cards that you transfer to and from each time are for different companies (not part of same group). You will of course rack up double the handling fees

GMT80

Many thanks :j