Use money transfer to pay off same credit card?

smudgebiscuit

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Hi,

I've been offered 0% on money transfers to my current account until December 2013-so i was thinking that currently i'm paying interest on my credit card purchases so could i borrow enough money to clear this off at 0% or are there things in place to stop this?

Thanks

Hbdc

They cannot specify what you spend money on once it is your account, but there is usually a 3% fee so it depends on whether you can make payments to cover the 3% and bring the debt down before the 12 months ends otherwise you are just adding to your debt and you'll have more to pay off next Dec.