Fast Stoozing, is this ok?

twadds123

So after clearing old debts i'm now in a position to start stoozing.

Just wanted to check if this process is ok

Been accepted for an RBS balance transfer card 0% fee 0% interest 22months

I have on one of my other cards a money transfer offer, 0% fee, 5.9% life of balance

so if i do the money transfer offer into my bank account (at 0% fee) and then balance transfer that onto the new RBS card at 0% fee then I'll have the stooze debt on a 0% 22 month deal for no fee?  with possibly i guess a few days of the money on the 5.9% life of balance card?

obviously need to do minimum payments on the RBS card.

then get the money in the highest savings i can find?

anything i've missed?

pecunianonolet

Sounds like the normal process. Just make sure you only utilise 95% of your RBS CC limit. The offer you have is MBNA I pressume.

Kendall80

Transferring funds from your bank account onto the credit card is not a balance transfer. Balance transfers are card-card.

twadds123

Kendall80 said:

Transferring funds from your bank account onto the credit card is not a balance transfer. Balance transfers are card-card.

yes, thats why i said i had a "money transfer" offer. 

money transfer into the bank account from Card A

then balance transfer from Card A to Card B

twadds123

pecunianonolet said:

Sounds like the normal process. Just make sure you only utilise 95% of your RBS CC limit. The offer you have is MBNA I pressure.

Bank of Scotland was the offer,  all done and went perfectly thanks

jcontest

Kendall80 said:

Transferring funds from your bank account onto the credit card is not a balance transfer. Balance transfers are card-card.

They are using 2 cards

From->To

Money Transfer Card (5.9%APR & 0% Fee) -> Bank Account

Then Balance Transfer Card (0% APR (22months?) & 0% Fee) -> Money Transfer Card

https://www.rbs.co.uk/credit-cards/balance-transfer-credit-card.html

What Money card do you have OP?

twadds123

jcontest said:

Kendall80 said:

Transferring funds from your bank account onto the credit card is not a balance transfer. Balance transfers are card-card.

They are using 2 cards

From->To

Money Transfer Card (5.9%APR & 0% Fee) -> Bank Account

Then Balance Transfer Card (0% APR (22months?) & 0% Fee) -> Money Transfer Card

https://www.rbs.co.uk/credit-cards/balance-transfer-credit-card.html

What Money card do you have OP?

it was a BOS existing customer offer, think I had it on my Halifax card too (same group)