Balance transfer jiggery pokery

honeycat20

Hi, long time lurker here. Apologies if this question has been addressed elsewhere but I haven't found an answer by searching yet on the forum or within the card Ts & Cs

I have 2 credit cards, both at fairly high rates of interest.
Barclays, balance £1126, limit £2000
Bank of Scotland £1874, limit £4500

Both credit cards have offered me a 0% interest balance transfer deal for the next year.

Can I transfer the whole Barclays balance to BoS, and then immediately transfer £1874 from BoS to Barclays, effectively making the whole lot 0% (excluding transfer fees)?
Or will they transfer back a chunk of the already transferred balance, rendering it pointless?

Thanks in advance for any help!

grumbler

Yes, you can.
IIRC, you can't transfer more than 90% of the limit to BC, i.e. £1800. Also, BT fees won't be at 0%.

honeycat20

Many thanks, I'll go ahead!

guesswho2000

grumbler wrote: »

Yes, you can.
IIRC, you can't transfer more than 90% of the limit to BC, i.e. £1800. Also, BT fees won't be at 0%.

BT fees on my Barclaycard have always been at 0%?

Not the case for all cards, but BC definitely was for me.