Money transfer - fast stoozing

Hi all,

This might be morally highly questionable so apologies in advance if this should be against any rules.

However, I have 3 credit cards, just applied for another 2 and e.g. Halifax and Lloys easily wave me through their soft checkers with 12k and 13k limits for another 2 (this would bump me easily over 50k combined credit limit).

So to create a high stoozing pot fast the easiest option is fee free money transfer offers/cards. However, offers for that are rare and I seem to have easy access to high limits of zero fee, zero interest balance transfer cards. 

So the thinking is to use a cc, order e.g. 2-3 expensive new iphoens or other small but expensive items from Amazon and use a cc. Once the payment is taken and the goods have arrived I balance transfer that debt for free to another card. I now send the items back and tell Amazon I don't want them anymore/changed my mind and they refund me. 

Now I have a positive balance on the original credit card and could ask the card issuer if they could refund me the sum into a current account. Obviously, that would only work once for each card. 

Now the cash is in my account, the balance transfered and I can "work" with that balance in easy access or fixed accounts (max 12 months) to cash in on the interest and pay back simply at the end of the cards promotional offer or snowball it (if sufficient offers are available in the future). 

Anyone done that or any concerns, risks, etc.?


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