Balance Transfer Back and Forth to get Promotional Rates?

GSMGSM

Hi there,

I have ~£3k credit card balance with a bank who is currently offering 0% interest for 12 months on balance transfers. I'd like to take advantage of this promotion. I have another credit card with £250 balance and no promotions and a £5k credit limit.

Is it possible to perform a balance transfer to my 2nd credit card, and then back again to my first credit card to take advantage of the promotion? Is this usually allowed / within the rules? Is there a certain period of time I have to wait before transferring back?

Thanks

eskbanker

You'd need to check what the one-off balance transfer fees would be as you'd be paying two lots of them, a few percentage points in each direction could make this quite an expensive thing to do, albeit still possibly worth it depending on what your APRs are....