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  • FIRST POST
    • JasonJohn101
    • By JasonJohn101 11th Feb 18, 7:23 PM
    • 3Posts
    • 0Thanks
    JasonJohn101
    Balance swapping between credit cards
    • #1
    • 11th Feb 18, 7:23 PM
    Balance swapping between credit cards 11th Feb 18 at 7:23 PM
    Hi everyone - great to meet you

    I have 2 credit cards both with balances below half the credit limit. I am currently paying interest on both balances. Both cards are offering interest free periods on balance transfers. I’m wondering if I could effectively “swap” the balances between the two, thereby making the most of the interest free offers.

    Is this possible? - Is there anything I should be aware of?

    Thanks in advance
Page 1
    • zx81
    • By zx81 11th Feb 18, 7:24 PM
    • 17,205 Posts
    • 18,283 Thanks
    zx81
    • #2
    • 11th Feb 18, 7:24 PM
    • #2
    • 11th Feb 18, 7:24 PM
    Yes, you can do that.
    • Chrysalis
    • By Chrysalis 11th Feb 18, 7:29 PM
    • 2,218 Posts
    • 1,057 Thanks
    Chrysalis
    • #3
    • 11th Feb 18, 7:29 PM
    • #3
    • 11th Feb 18, 7:29 PM
    yes providing they not from the same company.
    • JasonJohn101
    • By JasonJohn101 11th Feb 18, 7:37 PM
    • 3 Posts
    • 0 Thanks
    JasonJohn101
    • #4
    • 11th Feb 18, 7:37 PM
    • #4
    • 11th Feb 18, 7:37 PM
    thanks for fast response (amazing)

    A guess a further questions is this...

    I go ahead and perform my first transfer from card 1 to card 2 ... so now card 2 now has the original debit and the transferred debt. I obviously want to pay off the original debit that I'm paying interest on, not pay of the debit that I'm enjoying 0% interest on. Do I need to worry about this or am I over complicating things?
    • zx81
    • By zx81 11th Feb 18, 7:50 PM
    • 17,205 Posts
    • 18,283 Thanks
    zx81
    • #5
    • 11th Feb 18, 7:50 PM
    • #5
    • 11th Feb 18, 7:50 PM
    It will automatically pay off the highest rate debt.
    • JasonJohn101
    • By JasonJohn101 11th Feb 18, 7:52 PM
    • 3 Posts
    • 0 Thanks
    JasonJohn101
    • #6
    • 11th Feb 18, 7:52 PM
    • #6
    • 11th Feb 18, 7:52 PM
    thanks ZX81 - appreciate the confirmation
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