Dual balance transfers

cherryblossomzel

I'm sure this must have been asked before, but I couldn't find anything, so I apologise in advance.


I have 2 credit cards with different banks. Both offer 0% on balance transfers but high interest on purchases. I want to make a large purchase. Can I split the cost and do balance transfers between the two?


For example: I put £1000 on each card and then immediately transfer £1000 from each card to the other. Now both cards have £1000, but as balance transfers with the associated zero interest, rather than as purchases. Will this work? (assuming of course I don't go over any credit limits)

Smart77

Why not put the whole transaction onto one card, then do a balance transfer for the whole amount?

If you do not have enough headroom on either of them to do this, which may be why you are splitting the cost, you probably won't be able to to do this.

ie You want to spend £2000 but both c/cards have a limit of £1500 so you split the cost and put £1000 on both. Now neither card has enough headroom to transfer the £1000 from the other card.

I'm new to the forums but have been using 0% BT's for a while so am pretty sure this is correct (and common sense makes me think this also).

HTH

Smart77

cherryblossomzel

Thanks for replying. My one cc has a large limit, the other does not. Provided I do the first transfer from the lower to the higher limit card, I won't go over either. The one low limit means I can't just do one transaction and then a transfer.

I have requested an increase on the lower limit card, I'll have to wait and see if they let me have one.