Sending new 0% BT to old cc giving positive balance on old card

Is it possible to send the new 0% fee balance transfer cards credit limit (7k) to my old credit card 0% purchases card with a £2k balance leaving it £5k in credit and then withdrawing that £5k credit balance to my current account?

My old 0% purchases card deal runs out soon so won't be able to rack up another £5k spending on it by then so thought the above could be an alternative.
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  • Depends. Some allow it, some will return it/close the account.
  • mrs_T
    mrs_T Posts: 1,017
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    Should be ok if old card is barclaycard or MBNA.
  • Smeagal
    Smeagal Posts: 720
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    Thanks, the old card is nationwide, will ring them tomorrow see if it will accept more than the current balance.
  • ceredigion
    ceredigion Posts: 3,709
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    T&Cs.
    page5
    6
    (B)
    ;)
  • Definitely need to check, I had one card which would only return a credit balance to the place it came from. My Halifax Clarity card will transfer a credit balance to any bank account.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    latinaid wrote: »
    Definitely need to check, I had one card which would only return a credit balance to the place it came from. My Halifax Clarity card will transfer a credit balance to any bank account.
    My immediate thought was to challenge/question this, but I see Halifax have revamped their T&Cs...and will* now even send a positive balance to a savings account you hold with them! Condition B7.3 relates.



    * Whether they would for circa £10K, which is the size of my usual 'credit balance refund' requests of MBNA, is quite a different matter I'd suggest!
  • Smeagal wrote: »
    Thanks, the old card is nationwide, will ring them tomorrow see if it will accept more than the current balance.
    Are you serious!?


    I'm a regular user of such positive balance refunds, but I only ever make them from a 0% fee BT card...because one day they'll say no!...and that would be money wasted. And I've never alerted them beforehand!
  • Smeagal
    Smeagal Posts: 720
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    Are you serious!?

    I'm a regular user of such positive balance refunds, but I only ever make them from a 0% fee BT card...because one day they'll say no!...and that would be money wasted. And I've never alerted them beforehand!

    Yes I was! shouldn't I be!?

    Just to be clear, I never said I would tell nationwide that I was going to credit the card via tescos or anyone elses BT card, I just said I would ask about what they do with a credit balance, that could be me making a manual payment to the card or a refund of goods purchased months ago for all they know.

    I am wondering the difference though in me 'alerting them beforehand' or getting on the phone afterwards and requesting the £5k to be sent to my current account, presumable they would look to see where this £5k came from and then decide if their policy allowed it.

    That said, as someone new to stoozing maybe there is another way of getting the £5k credit to my bank account without having to speak with someone.
  • Smeagal
    Smeagal Posts: 720
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    ceredigion wrote: »
    T&Cs.
    page5
    6
    (B)
    ;)

    Thanks, they'll probably just send it back then, might test it anyway just in case.
    Nationwide wrote:
    6. Payments to your account

    (b) You must not intentionally make payments that place your account in credit.
  • Smeagal wrote: »

    That said, as someone new to stoozing maybe there is another way of getting the £5k credit to my bank account without having to speak with someone.



    This one has its good points
    https://www.mbna.co.uk/compare-credit-cards/low-rate-credit-cards/
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