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Balance Transfers and Positive credit
Alexander87
Posts: 1 Newbie
in Credit cards
Hi there,
I have taken out a new balance transfer credit card and intend to transfer over a balance (circa 2k) from my current credit card.
Due to the coronavirus I may have some refunds that will come through to my current credit card to the similar value of 2k. I may end up doing the balance transfer before the refunds come through which means I will be left with positive balance on my original credit card, which I will then look to withdraw to my current account.
Just wanted to check if this is all reasonably allowed and I won't be getting myself into hot waters?
Thanks in advance.
I have taken out a new balance transfer credit card and intend to transfer over a balance (circa 2k) from my current credit card.
Due to the coronavirus I may have some refunds that will come through to my current credit card to the similar value of 2k. I may end up doing the balance transfer before the refunds come through which means I will be left with positive balance on my original credit card, which I will then look to withdraw to my current account.
Just wanted to check if this is all reasonably allowed and I won't be getting myself into hot waters?
Thanks in advance.
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Comments
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You need to check the t&c's. Most banks do not allow a credit balance. You can ask them to refund any credit balance to your nominated bank account.
Edit: And welcome to the forum
I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
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