123 Rotating Credit Facility? 2 January 2015 at 4:11PM in Stoozing: free cash from credit cards 3 replies 1.6K views

a&akay

Just got the 123 CC with 23 months balance transfer, which seems to be for the life of the offer, ie no 'must be transferred within xx days of opening'. Does this mean that the card can be topped up with balance transfers from other cards that have this time limit and the credit limit re-sets itself for subsequent stooze till the offer runs out? I could look at the T&Cs till the cows come home to find the answer, or not:)

Thrugelmir

From Santander's website

Balance transfers

Save on interest repayments by transferring your balances from other credit or store cards. You’ll pay 0% interest for 23 months from the date of account opening and there is no balance transfer fee during the introductory period on this card.
On expiry of the 0% period, balance transfer fees will apply and interest will be charged on new purchases and any outstanding balance transfer and purchase balances at the standard purchase rate of 12.7% p.a. (variable).

a&akay

Thrugelmir wrote: »

From Santander's website

Not sure whether their algorithm doesn't add up all the transfers you make and only allows you to go to 95% of the original credit limit, or it allows you to transfer as much as you want as long as you don't go over the real time running credit you hold, as it's paid off by the transfers in. If the latter, I'll look for any stoozing opportunities if they exist.

Thrugelmir

Given transfers can be for sizable amounts. Bound to be manual intervention not merely reliance on algorithms.