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

Smeagal

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.

[Deleted User]

Depends. Some allow it, some will return it/close the account.

mrs_T

Should be ok if old card is barclaycard or MBNA.

Smeagal

Thanks, the old card is nationwide, will ring them tomorrow see if it will accept more than the current balance.

ceredigion

T&Cs.
page5
6
(B)

latinaid

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

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!

YorkshireBoy

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

YorkshireBoy wrote: »

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

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.

ceredigion

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/