Money transfer to pay expiring balance transfer...

Bruntonio

Hi everyone,

I've had a look and can't see anything specific for this, maybe I'm searching the wrong terms.
I'm looking for a bit of guidance please:

I have a Barclaycard credit card with £5000 on it which is the balance left over from a balance transfer from my wife's Santander credit card. We transferred it to get a promo rate and have paid off some of the balance, now down to the £5000 but this rate expires in November.

My question is...

Is there any problem with me doing a money transfer of £5000 from my Barclaycard to my bank (to get a promo rate on offer) and then paying that money back onto the Barclaycard, effectively resetting the promo rate plus the transfer fee?
I have a £13,000 credit limit on the card, so the amount is possible to process.
Just checking there's no issue around doing this, I can't see anything in their terms about it either.

Thanks in advance.
Paul

[Deleted User]

Yes, you can do that.

Bruntonio

Great, thanks for your answer.
I thought it would be fine but thought I'd better check as it seems too easy/obvious to do.

Cheers
Paul

Akahotpot

I did it last month no issue , after great advice on here ,it never occurred to me to do that lol

Bruntonio

Thank you, this reassures me to crack on with it