Transfer away, transfer back again...

adz2383

Hi guys, im quite new to the whole money saving expert thing and have been working through the credit card tips on the website.

One question i dnt seem to be able to find an answer to anywhere, and excuse my stupidity if it is obvious:

I have 2 credit cards.

Card 1: virgin, interest free on balance transfers till april '09. 3 months free on purchases till end of april '08. Limit (4200)

Card 2: Egg pretty much the same as the virgin. (have just taken this one out) Limit 1500

I purchased a holiday (1600) using the virgin card. And the interest free period is up
end of april so i have transfered that balance to the egg card.

I dont want 2 credit cards, ideally. But have a balance of approx 1000 left on the virgin card.

Q: what is stopping me transfering the 1600 back to the virgin card, after a month of being on the egg card?

Apart from the transfer charge i cannot seem to see anything saying i cannot do this, thus effectivly turning any purchase i make into a long term interest free purchase.

Am i missing something?

Any help with this matter would be greatly appreciated

Regards

Adz2383

Moggles_2

Before the advent of balance transfer fees, I shifted money back and forth in this way.

There's nothing to stop you from doing it now, but your borrowings are not really interest-free, if you've paid two 3% handling charges to shift the same money.

tomp1862

yeah its the fees that get you otherwise your fine to do it