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Can you BT before statement date?
Mean_moose
Posts: 19 Forumite
in Credit cards
Quick question regarding balance transfers.
I wanted to stooze some money and have to make a big purchase (say 5K) in a few months.
I have a 2.5% CB from Amex after meeting their 10k a year threshold. I wish to spend 5K on this card and get GBP125 cash back. Then I would like to balance transfer this 5K to a another BT card with 0% fee (and 0% BT fee too - so perfectly logical) then stooze the '5K' free credit @ 4% interest with Lloyds. So with this purchase I would effectively be up 6.5% vs paying in cash (so +GBP325).
Question time: My credit limit on the card is say.. 4k and I would like to make the balance transfer before the statement is produced at the end of the month (then charge the other 1k and transfer it if possible).
Can I make transfer before the statement is produced but after I make a 4K payment?
[And yes, I can split the payments up, its school fees].
I wanted to stooze some money and have to make a big purchase (say 5K) in a few months.
I have a 2.5% CB from Amex after meeting their 10k a year threshold. I wish to spend 5K on this card and get GBP125 cash back. Then I would like to balance transfer this 5K to a another BT card with 0% fee (and 0% BT fee too - so perfectly logical) then stooze the '5K' free credit @ 4% interest with Lloyds. So with this purchase I would effectively be up 6.5% vs paying in cash (so +GBP325).
Question time: My credit limit on the card is say.. 4k and I would like to make the balance transfer before the statement is produced at the end of the month (then charge the other 1k and transfer it if possible).
Can I make transfer before the statement is produced but after I make a 4K payment?
[And yes, I can split the payments up, its school fees].
0
Comments
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Yes you can do if there is sufficient limit to do so0
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