We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Multiple balance transfer question

I have 2 cards MBNA and Barclaycard. I had 0% promo on both which has recently expired but currently have an offer for 0% for a year on any transfers made for the whole of this month for both cards. My MBNA card has 900 available with 10000 limit and Barclaycard about 2600 with 5000 limit.
Can I just shuffle the balances to and fro on both cards till the end of the month until the full balances on both cards are on the promo rate? Would there be any rules against this?
There is a 2.6% fee for every transfer but I pay more than that in interest so I think I would still be better off.

Comments

  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes, you can do this, but check if there is the min fee for a small BT. In this case avoid small BTs that can cost more than 2.6%.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.6K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.7K Work, Benefits & Business
  • 603.1K Mortgages, Homes & Bills
  • 178.1K Life & Family
  • 260.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.