NW balance transfer offer also with money transfer

900se

Hi,

I had an letter from Nat West for a 12 month balance transfer offer for 12 months on my NW credit card. It also said there was an offer for 0% money transfer to any bank account for the same 12 months up to the cash limit (which is £2000). Let's call this card NW1.

I also have another NW credit card which has a similar balance transfer offer (but without the money transfer) and I've also have a Barclaycard with a 14 month 0% balance transfer offer. Let's call them NW2 and BC.

I know you can't balance transfer between two credit cards belonging to the same group. But with the money transfer offer, can you see any reason why I can't transfer money into my current account from NW1 and then use this to pay off NW2 - effectively a balance transfer at a similar cost and 0% rate?

So, for all three cards, I could balance transfer my existing balance from:

NW1 to BC, and also what was previously on
BC to NW2 and in effect, use the money transfer to move the previous balance from
NW2 to NW1

So I end up circulating the debt around the three cards and loose interest repayments for 12 months on the lot (ignoring transfer fees)?

Thanks

bengalknights

Cant see no reason why you cant do it

grumbler

What are the limits and the balances?
What's the point in BC to NW2 if BC is 0%?

900se

grumbler wrote: »

What are the limits and the balances?
What's the point in BC to NW2 if BC is 0%?

The 0% will be on new balance transfers TO this card. There is an existing balance on this card that I'm paying the standard rate on.

There's about an existing £1500 debt on NW1 (£3000 left on credit limit)

On NW2, £3000 debt (£1000 left on limit).
On BC, £500 debt (£3000 left on limit).

triple_choc_chip

"I know you can't balance transfer between two credit cards belonging to the same group. But with the money transfer offer, can you see any reason why I can't transfer money into my current account from NW1 and then use this to pay off NW2 - effectively a balance transfer at a similar cost and 0% rate?"


Nat west recently advised me that transfers can be done directly between other cards in their group eg RBS or another Nat west card. They are treated as a money transfer (not a balance transfer.)