BoS > Lloyds balance transfer ping-pong

ldnsmv

Hi

I had an interest bearing balance of £ 5,300 (at 29%) on a Bank of Scotland card, which I had hoped to transfer to a Lloyds card. However, though accepted for the Lloyds card, I received a limit of £ 1,500 only - with 18 months at 0% for balances transferred within 90 days, at a cost of 0.8% for the transfer.

I've transferred an initial £ 1,380 from Lloyds to BoS, which has cleared. For some time Bank of Scotland has offered me 9 months at 0% for balance transfers, costing 3%.

My questions are

1) If I followed a process of transferring the Lloyds balance to the BoS card, then back again to the Lloyds card, until I've covered the interest bearing amount in part for 18 months at 0% with Lloyds and in part at 0% for 9 months at BoS, would it lead to any foreseeable problems?

This would involve 4 transfers! And assumes BoS allows me to repeatedly use the current offer. I'll take a total 3.8% hit on the transfer fee, but this is still substantially better than the BoS interest rate.

2) Do card issuers see an incoming balance transfer for what it is - a payment you make from another credit card, or is it simply seen as an incoming payment?

[Deleted User]

Yes, you can do that, as long as it's within the promo window.

A BT is just treated as a payment.