Transferring balances between credit cards

[m_jonis]

I have a Visa CC that had a 0% APR that is expiring. I want to transfer the balance to my Amex Blue (it's a fixed 9.9%), and then use the previous Visa card to "re-transfer" the balance back (they have a fixed 3.9% they'll give me on new balance transfers). Will this have a negative impact on my FICO score? Technically the balance percentage will remain the same, but I don't know if moving a balance around twice is factored into the scoring somehow (obviously if Amex reports the balance increase before the Visa card shows it going to zero, etc. it may mess with the utilization). Thanks!

[Anonymous]

How large of a balance are we talking?

[Anonymous]

Remember that there's usually a balance transfer fee (3% is not uncommon), and that is regardless of how long you keep the balance. So you might be paying more if you keep that balance less than about 5 months.

[Anonymous]

Be aware that as soon as you pay off the original balance (the transfer to AMEX), you might see the 3.9% offer disappear.  Have they sent you checks?  Or was it online?  And, definitely be aware of transfer fee's (3% is common, often with limits of a min of $5 to $10 and a max of $75 to $90.  However, I've also been seeing some of my cards not capping a max).  It might not be worth to 3% transfer fee's.  Also, be sure it clears your old 0% before transferring back.

[m_jonis]

Talking about $7,000.00 Amex has no fees for balance transfers, neither does the Visa card I'm planning on re-transferring to. The interest rate would be fixed for the life of the loan, so even if you factor in a 3% transfer fee (depends on whether it's a max of $75 or unlimited), even at 12 months it's a 6.99% (and lower if you take longer to pay it off).

[Anonymous]

Go ahead and BT the whole thing to AMEX. Then BT back to Visa.