Cashback, then balance transfer....

b0redom

Hi,
In the next 3 months, it's likely I'll be spending upwards of £20k on my wedding, rings and honeymoon. Are there any restrictions on cashback and balance transfer deals?

It seems to me that I could apply for both, do the spending on the AmEx 5%, and immediately balance transfer it to a 0% card giving me a big cash bonus, and an interest free loan.

I must be missing something here?

NickX

Only drawback is that you need to get £20K limit on 0% cards, this may mean several cards which will have to be administered with care.

Also there is usually a 3% fee for the Balance Transfer, so on £20K which could mean up to £600 to be paid in fees. But ofcourse you will benefit from 0% interest for 12-15 months.

Congratulations on your wedding :beer: