Transfer Balance Then Transfer Back....Allowed/Possible?
Hey Guys and Girls! I was just curious if it is allowed/possible to transfers a cards balance to another account and then transfer that balance back over to take advantage of a balance transfer promo? I only ask becuase I see that my Discover Card has this promotion for 0% interest on balance transfers for 12months and thought that it would be a way of getting around their interest charge if it were allowed by Discover. One could just transfer the balance they owe on discover, wait for it to clear and then have Discover transfer it back. I dont need a transfer, its just something that caught my attention and was curious about. Happy New Year!
Starting Score 5/10/2012: EQ: 631 EX: 570 TU: 583 Current Score: EQ: 710 (MyFico) EX: 740 (CreditInform) TU: 709 (WalMart) NEW Goal Score: 750 All Across 1st Goal: Achieved 6/7/2013 690 All Across
Re: Transfer Balance Then Transfer Back....Allowed/Possible?
Sure you can but your also inviting trouble
Be careful
Before you app think... Have you done your research of the CC? Does it fit your spending? Do you have a plan for the bonus w/o going into debt? Can you afford the AF? Do you know the cards benefits? Is it worth the HP?