Transferring a credit card in credit?

pcdj

Mint are currrently offering balance transfer rates of about 5% for the life of the balance with no fee from credit card to credit card, which seems to be a lot more attractive than any loans out there.

I just rang their call centre up asking whether this could be done to a current account and the answer was no. The guy did however say that I could get around this by paying the amount to any other credit card with a £0 balance, which would make that credit card have a positive balance, after which I'd be free to transfer this credit amount to my bank account.

Is this right, or was he talking rubbish?

sicker

I believe some cards may send you a cheque for any positive balance BUT others send any positive balance back to the originating card. You might try asking your current card what there position is on positive balances. They can only say no.

John

GeorgeUK

Have a look for cards that can do a super balance transfer (to current account)

Most MSNA and egg can do these (although that would mean an additional fee so may not be worthwhile)

YorkshireBoy

GeorgeUK wrote: »

Most MSNA and egg can do these (although that would mean an additional fee so may not be worthwhile)

Egg Money doesn't charge a fee for an onward transfer (of a positive balance) to a current account, meaning OP could BT from Egg Money to Mint's LOB deal.

Alternatively, OP could ask Mint if they would let him use a Mint 'transfer and save' cheque on the same LOB terms (ostensibly to settle a loan).