Money Transfer for the Price of a Balance transfer - Works with Most Credit cards!
Found 27th Dec 2017Edited by:"computerrobot"
I am not aware of anyone else doing this but Have tried it myself a few times.
1. You take out any new credit card with a balance transfer offer.
2. Transfer the balance from another "empty credit card" (make sure it equals about 90% of the new credit card limit.
3. After the money has gone through, you simply ring the other card in part 2 and get the credit transferred to your current account free of charge.
The last time I did this was a few months back. I opened a credit card with Virgin and made a balance transfer of about £6k from my empty HSBC credit card (with HSBC's permission). I have effectively a 6 grand loan with free interest for about 3 years and paid about 1% fee at the time.
If you are in any doubt, ring your empty credit card company and ask if you are allowed to go into credit (rather than debt).