Balance Transfer Question

ray1971

I have a question and think I know the answer, but would appreciate any views.
I have total credit card debt of approx £9000 spread over 4 cards.On one account I have a credit limit of £4000 with a debt of £3500 owing on it.
Today I have recd a zero percent balance transfer for 12 mths, initially I thought oh well I can use it to pay off approx £300 to another card taking my balance to the upper limit.
Having thought about this would it be worth me using another card to pay off all my £3500 balance ( I do have the credit available on another card) then use the zero percent deal to repay that transfer at zero percent, thus giving me a year with no interest on a £3500 debt?
Think its a no brainer really but like I said any views appreciated.

Cycrow

Unless you have a balance transfer available on your other cards, you wont be able to pay off it off using another credit card.

depending on your spending habits, you may be able to put your normal spending onto a free credit card, then using the money that you would have spent to pay off some of the balance, effectively moving the balance from one card to other.

msallen

Cycrow wrote: »

Unless you have a balance transfer available on your other cards, you wont be able to pay off it off using another credit card.

Thats not necessarily true. Many cards always allow balance transfers, its just that they may not have an offer on what interest rate you pay.

Cycrow

msallen wrote: »

Thats not necessarily true. Many cards always allow balance transfers, its just that they may not have an offer on what interest rate you pay.

I dont see how its not true

if they always allow balance transfers, then clearly a balance transfer is available.

but not all cards allow balance transfer all the time.
so its still dependant of weather its available or not, regardless of rate or offer that might be on

ray1971

The transfers have both been done now.....So that's £4000 on interest free for a year:j