Can you transfer mii's between wii's?

Can I do a balance transfer back and forth?

• What I mean is - I have 2 credit cards. .. 1. Barclaycard (balance 0 £ - but no option to get 0 % on a balance transfer, already asked) 2. MBNA (balance 1800 £ - this money comes from a 0% balance transfer made last year, 0% ran out in August) I have now received a letter from MBNA telling me that I will get another 12 month for a balance transfer for 0 %. Could I do a transfer of the money that's already on the card back to barclaycard and then immediately transfer it back to MBNA so it counts as a balance transfer and I will get another 12 month 0 %? It's because at the moment we are unable to get another 0% credit card and I thought that will enable us to pay it off asap. Is that possible or does MBNA not bother? I know we have to pay a balance transfer fee but that will be much cheaper than paying interest for the next 12 month.

• Answer:

  I'd check with Barclay if there's a minimum amount of time you need to have the balance on the card before transferring it back off - I would assume at the least you're going to be paying the transfer fees and one day's worth of interest, but it may be more. Doing this will save you a bit of money on interest, but it will not be some miracle which will help you "pay it off asap". Over the course of the year you'd save about £300 in interest if you made zero payments, but I would assume by "asap" you have plans to try to pay off the full balance within a year? I'd suggest playing with the numbers here: http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx to see how much interest you would actually be saving. Assuming a 20% interest rate on your MBNA, and you wanting to pay off the balance within a year, you could do this with 12 equal monthly payments of £166.74, meaning you'd be paying £200 in interest. So as long as your transfer fees for both your Barclay and MBNA cards add up to less than £200 you'd be saving money (if your interest rate is 20%, that is). If the interest rate is closer to 10% you'd be paying only £100 in interest over the year if you make payments of £158.25 per month. If you're planning on paying it off sooner than 12 months you'd be paying even less interest. What I did was type in your balance and guessed at your interest rate and number of months to be debt-free here: http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx Then multiplied the result by 12 to see how much you'd pay over the whole year, then subtracted 1800 to see what just the interest was.