Double Balance Transfer

richmudie

Hi,


I have a Tesco credit card with a balance of approximately £1500 on it which is coming to the end of its interest free period. I also have an offer from Tesco for 14 months interest free if I make a balance transfer to it.


In order to save applying for a new interest free card I was wondering whether I could simply transfer the balance from the Tesco card to another credit card and then transfer it back to Tesco to take advantage of the 14 months interest free? Are there rules against this?


I realise I would have to pay 2 lots of fees for the balance transfers but would rather do this than apply for another card.


Thanks for your help

Paully232000

I have certainly done this in the past, albeit a while ago from virgin, to natwest, to virgin. I had to do this as i was a student at the time and couldn't get another CC.
Why would you not want to apply for another BT card, that seems, on the face of it, to be the best idea. Or phone up your other CC provider and see what offers they can give.

Tixy

There is always a very small chance that after doing the first transfer that tesco pull their BT offer, or even reduce your limit/choose to close your card with them.

If you did get stuck with the balance on the other card - is its standard APR comparable to Tesco's standard APR?

For this reason reason and because it would only be one transfer fee I would explore the suggestions above to see if your existing card provide will offer a bt promo deal or consider applying for a new card elsewhere.