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Is it possible to use balance transfers to avoid interest with major credit cards?

Juggling money inbetween two credit cards to avoid interest.?

  • I'm not too sharp with this whole credit card business. But if I owe say £500 on a credit card A, if I pay that off with credit card B within the time allowed so as not to bay any interest. Can I then the next month use credit card A to repay the £500 now on credit card B. So only having the £500 in any account for no more the 3/4 weeks. Would this avoid any interest at all untill I repaid it in full?

  • Answer:

    It really depends on the conditions and restrictions of your credit cards. Many credit cards charge a balance transfer fee which in many cases may be as much as the interest you are saving. GOOD LUCK

andrew90... at Yahoo! Answers Visit the source

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its not that smart to do, your credit card companies will notice plus there are times that they will look upon those transactions as a interest charging event. Most CC companies only offer a small window of time where balance transfers are fee free.

Rebecca -

Go to this website www.moneysavingexpert.com. This guy is a master in card 'tarting'. Won't mind saying I made a few bob myself following his advise!

L1LVN

Hmm could work ,some people just keep transferring it and getting new credit cards

pups

I think you would avoid the interest but you will pay a transaction fee for the balance transfer.

G-man

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