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Chain stoozing...
pjvenner
Posts: 50 Forumite
in Credit cards
I'm sure it's possible but how would it affect your credit score?
For example, You get a no-fee card with no interest on purchases for x months, spend it to the limit (on purchases), then pay it off in full before the interest-free purchases period ends using interest-free balance transfer to a new card.
I would expect that getting the new card degrades your credit rating, but would this be offset by the fact that you had repaid the previous card in full? If so, is there any reason why you couldn't get a new card each month and enjoy interest-free credit on the amount that you spent on the first card until you run out of cards that offer zero interest on balance transfers.
For example, You get a no-fee card with no interest on purchases for x months, spend it to the limit (on purchases), then pay it off in full before the interest-free purchases period ends using interest-free balance transfer to a new card.
I would expect that getting the new card degrades your credit rating, but would this be offset by the fact that you had repaid the previous card in full? If so, is there any reason why you couldn't get a new card each month and enjoy interest-free credit on the amount that you spent on the first card until you run out of cards that offer zero interest on balance transfers.
Energy prices are rising fast so if you like my comment, thank me quickly so you can shut down your computer sooner..! And if you believe Al gore you'll be doing your bit for the planet 
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Comments
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I'm sure it's possible but how would it affect your credit score?
For example, You get a no-fee card with no interest on purchases for x months, spend it to the limit (on purchases), then pay it off in full before the interest-free purchases period ends using interest-free balance transfer to a new card.
I would expect that getting the new card degrades your credit rating, but would this be offset by the fact that you had repaid the previous card in full? If so, is there any reason why you couldn't get a new card each month and enjoy interest-free credit on the amount that you spent on the first card until you run out of cards that offer zero interest on balance transfers.
What about the fee (up to 5% with MBNA, for example) each time you do a BT?0
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