Halifax Balance Transfer - use same offer multiple times?

callum9999

Hi,

I have a slightly complicated situation and I'm just double checking I've not overlooked something.

My plan is to:

1) Transfer £1k from Nationwide to Halifax
2) Transfer £1.5k from Halifax back to Nationwide (existing balance + the transfer)
3) Withdraw £1k from my Clarity card then transfer that to Nationwide
4) Transfer from a third card to Halifax

There'd therefore be 2 transfers into my Clarity card and 2 transfers out. The small print says I can make unlimited transfers during the offer period, but will the system play up with the total transferred amount being higher than my credit limit (even though payments into the card mean its never actually exceeded)? If so, I have 3 balance transfer offers on the Clarity (4.9%, 9.9%, 12.9% over varying periods) - would it be better to transfer using one of those deals and then use the 4.9% for the last transfer (i.e. the one that is staying there), or does it make no difference?

Hopefully that all makes sense! Thanks.

Dobbibill

The post is a little confusing.

You don't say what your balances, APR and Credit Limits are on all of your cards.

What offers are you trying to benefit from?
Is there a BT fee for any of the transfers?

bengalknights

As long as you dont place the card in credit or exceed the credit limit then the promo will apply.

callum9999

Dobbibill wrote: »

The post is a little confusing.

You don't say what your balances, APR and Credit Limits are on all of your cards.

What offers are you trying to benefit from?
Is there a BT fee for any of the transfers?

Yeah I thought it could be a bit confusing! I left out all that stuff because it seemed irrelevant (I'm not asking for advice on which is best, just whether what I want is possible) and I was trying to minimise the confusion. Either way, the details are:

1) Nationwide, limit £2.5k, current balance £0.9k at 0% expiring this month, new offer for 12 months at 0% with 2.9% fee.

2) Halifax, limit £1.5k, balance £0, 3 offers with 0% fee (4.9% for 24 months, 9.9% for 3 months, 12.9% for 6 months)

3) Lloyds , limit £2.5k, current balance £0.3k (will increase to around £1k before I transfer its balance - probably with a refundable hotel booking)

Effectively I'm trying to change all the available balance on the two decent balance transfer offers to cash using ATM withdrawals via the Halifax Clarity card.

bengalknights wrote: »

As long as you dont place the card in credit or exceed the credit limit then the promo will apply.

Great thanks.

callum9999

Dobbibill wrote: »

The post is a little confusing.

You don't say what your balances, APR and Credit Limits are on all of your cards.

What offers are you trying to benefit from?
Is there a BT fee for any of the transfers?

Yeah I thought it could be a bit confusing! I left out all that stuff because it seemed irrelevant (I'm not asking for advice on which is best, just whether what I want is possible) and I was trying to minimise the confusion. Either way, the details are:

1) Nationwide, limit £2.5k, current balance £0.9k at 0% expiring this month, new offer for 12 months at 0% with 2.9% fee.

2) Halifax, limit £1.5k, balance £0, 3 offers with 0% fee (4.9% for 24 months, 9.9% for 3 months, 12.9% for 6 months)

3) Lloyds , limit £2.5k, current balance £0.3k (will increase to around £1k before I transfer its balance - probably with a refundable hotel booking)

Effectively I'm trying to change all the available balance on the two decent balance transfer offers to cash using ATM withdrawals via the Halifax Clarity card.

bengalknights wrote: »

As long as you dont place the card in credit or exceed the credit limit then the promo will apply.

Great thanks.

Dobbibill

Ah it makes sense.

The only hiccup I can see may happen is you may not quite get all the balances transferred across. Most CC's only allow BT up to 95% of the credit limit so it might be tight but not by a huge amount.

In theory, your plan will work.

callum9999

Dobbibill wrote: »

Ah it makes sense.

The only hiccup I can see may happen is you may not quite get all the balances transferred across. Most CC's only allow BT up to 95% of the credit limit so it might be tight but not by a huge amount.

In theory, your plan will work.

Thanks. That's not an issue - I was rounding the figures and I'm not expecting to get exactly 100% of the credit limit transferred. I was just double checking I wouldn't run into any problems where the balance transfer offer disappears when I've already transferred my entire credit limit in then out on the same offer!