Use 0% cash offer to pay off interest bearing items?

perez73

Hi,

I have a 2k balance on my credit card which is made up of purchases and some cash advances.

Using the offer to pay cash into my bank account could i withdraw enough to cover this by transferring back against the card once i have received it in my bank account?

In my mind this will eliminate the high interest items, which i know must be paid first, leaving just the balance taken for the cash transfer which is at 0% until next year.

The low cash transfer offer rate is less than 2% which is significantly better than the painfully high rate i'm paying on my cc debt now.

Apologies if ive missed this topic elsewhere but i couldnt find anything.

Any advice is appreciated.

Thanks

[Deleted User]

perez73 wrote: »

Using the offer to pay cash into my bank account could i withdraw enough to cover this by transferring back against the card once i have received it in my bank account?

Depends on your limits. If you have more than 2k available, then yes.

perez73

Yes i do. That's great news.

Many thanks for the reply