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Balance Transfer

pickers1875 Posts: 1 Newbie

24 February 2014 at 4:33PM in Credit cards

Hi all,new poster here so apologies if this has been covered elsewhere.I have £5500 owing on a credit card.£2500 is interest free until the end of May.I have been accepted for two other cards with 0% deals with a total of £2250 at 0%.My current card provider is also offering a deal of 6.9% on balance transfers up to £800.
So could i transfer some of my balance to the 0% cards and then transfer it back to my original card?therefore taking advantage of the lower rate.Could i do this more than once until £3250 that is at 18%APR is back on the original card but at 6.9%?
I know that i pay a 3% fee each transfer but I'm guessing Id save more than that in reduced APRs.Is that correct?
Also nearer the beginning of may do it all again so the £5500 would be spread out like this;
£2250 at 0% and £3250 at 6.9%.
I thank you in advance for any help.

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Balance Transfer

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