Hello, wondering if anyone knows if I can balance transfer to take myself into credit on a credit card?
so…
CC A = Zero current balance & they are offering 12 months BT 0% offer
CC B = $8000 balance
I request a balance transfer from Card A to B of $10,000, anyone reason why that wouldn't work as I assume Card A has no idea what the current total of Card B is??
Thanks. What i'm trying to achieve is I have a personal Credit card (Card B ) I use for work purchases , current balance of $9000, i'm due back the $9000 tomorrow. I have another credit card with a zero balance (card A) that are offering 0% for 12 months. I then have a personal loan of $14,000 paying close to 14% interest.
So doing some juggling of funds I can hopefully get the full $14,000 at 0%.
I got rejected by citibank so the cheque to self isn't an option
further to this has anyone been getting any citibank 0% deals or suggest another credit card which could accept a 0% balance transfer with preferably no annual fee.
Ive got 20k on my citibank that i will need to pay back in the next few months
St George has 18 months with $55 fee - http://www.creditcardfinder.com.au/balance-transfer-credit-c…
yes watch out if there is a cash advance fee to take out credit balance. i know westpac charge $2.50 if you do it online and anz used to be free if you transfer the credit balance into your savings account but i think new terms come into effect mid june so there may be fees now? failing that call up and ask for a cheque but mind you its getting harder with amex and citibank etc because of the strict money laundry rules you may have to provide proof it came from you before they refund it which can be a headache and time consuming process.
Yes that works.
Just watch out if there is a cash advance fee to take out credit balance.