Balance transfers back and forth?

mark14787

If i have 2 cards both with say 1000 owing, and both cards have now finished a previous 0% balance transfer period.

However both are now offering 0% on any NEW transfers.

If i transfered 1000 from card A to card B so total balance on card B was 2000.

Then transfered back 1000 to card A would both cards now be on the 0% rate?

glentoran99

No, You would need to transfer 1000 from Card A to Card B


Then 2000 from Card B to Card A, otherwise you will still have 1000 attracting interest on Card B

mark14787

and say if i started to pay off the 2000 on card B....will i be paying off the first 1000 incl interest or paying off the 2nd 1000 on 0% first??

glentoran99

Depends on the terms but its usually interest attracting first

[Deleted User]

mark14787 wrote: »

If i transfered 1000 from card A to card B so total balance on card B was 2000.

Then transfered back 1000 to card A would both cards now be on the 0% rate?

You're correct - you'd have 1k on each at 0%.

glentoran99

Deleted_User wrote: »

You're correct - you'd have 1k on each at 0%.

But the interest attracting 1000 on card B was never moved so will attract interest

Cycrow

glentoran99 wrote: »

But the interest attracting 1000 on card B was never moved so will attract interest

the initial 1000 would have been moved to card B leaving 1000 from the new transfer at 0%.

balance transfer works in the same way as a payment, the payment will go towards the highest interest, so the existing balance, not the part at 0%

lynz68

I have done this in the past and yes it works. However I would do one transfer at a time let it clear and then do the second transfer.

jonesMUFCforever

By doing this won't you incurr 2 BT fees?
If you apply for a totally new card you will only pay the once.