Can I balance transfer away and back again?

Hello.

I have a Virgin Money credit card with a long period of 0% on balance transfers (when made within 60 days of opening the account, which I'm still within).

I've unfortunately made payments with this card as well.

I've now acquired another card with a shorter 0% on balance transfers.

My intention is to transfer the 'payments' balance away from Virgin Money to my other card, AND BACK AGAIN, so that Virgin Money treats it as a balance transfer balance at 0% rather than a payments balance.

Would this work? Or is there something in place to stop people doing this?

Thanks in advance for your advice!

Comments

  • Sparx
    Sparx Posts: 909 Forumite
    Part of the Furniture Combo Breaker
    Yes you could do that in theory.

    Bit daft though as you'll incur a transfer fee twice for shifting it on both occasions.
  • Thanks!

    Though not really daft if the transfer fees are less than the interest on leaving it in a "payments" balance for 3 years would be.
  • SHill
    SHill Posts: 146 Forumite
    It's called a credit card shuffle people tend do what you are considering when there 0% balance deals are ending not at the start.

    It may pay you reviewing 0% purchase cards instead of balance transfer card... so you can make purchases and pay the amounts of over time with out the hassle of card shuffling...& getting new cards
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