Balance Transfer Poser

QuantitiveQueazing

Hi there. I’m a new poster on here an looking for a bit of advice. It’s a bit winding but please bare with me.

I currently have two credit cards offering me 0%apr Balance Transfer for 12 months with 3% transaction fee. Credit card 1 has £4000 on it (almost maxed out), and credit card 2 has £2000 with £2000 available. 

Obviously I would be transferring from credit card 1 to credit card 2, but then here comes the poser;

if I were then balance transfer the same amount from credit card 2 back onto credit card 1, would that would that then clear the balance which I had just recently transferred from credit card 1 onto credit card 2?

Any help would be greatly appreciated.

MallyGirl

Step 1
BT £2k from card 1 to card 2 leaving card 1 with £2k, card 2 with £4k. 3% of £2k as a fee added.
Step 2
BT £2k from card 2 to card 1 leaving card 1 with £4k, card 2 with £2k. 3% of £2k as a fee added.
it would leave the balances back where you started, plus the 3% fees, but now £2k on each card is at 0% for a year.
Note: you can never entirely use 100% of the limit as they have to allow space for fees so it is usually capped at 90% or 95%.
Make sure the 2 cards don't belong to the same banking group.

QuantitiveQueazing

MallyGirl said:

Step 1
BT £2k from card 1 to card 2 leaving card 1 with £2k, card 2 with £4k. 3% of £2k as a fee added.
Step 2
BT £2k from card 2 to card 1 leaving card 1 with £4k, card 2 with £2k. 3% of £2k as a fee added.
it would leave the balances back where you started, plus the 3% fees, but now £2k on each card is at 0% for a year.
Note: you can never entirely use 100% of the limit as they have to allow space for fees so it is usually capped at 90% or 95%.
Make sure the 2 cards don't belong to the same banking group.

Thanks for the quick response, very much appreciated. 

One is Lloyds and the other is BOS which are both obviously the same banking group. I’m guess that would be an issue then?