credit card

[stephen2504]

i want to transfer 2000 pound from my lloyds credit card into my bank account then use my other credit card to do a balance transfer at 0 percent for 12 months whats the easiest way to do this

[Ethel]

Think again. There will be a charge of 2% for withdrawing the cash - �40, and if the other card charges 3% for balance transfers - �60 there's �100 already.


If you can get an overdraft for �2000 and pay it off over 12 months, at 6% (my bank's interest rate for overdrafts) you will pay less than �60 in interest and no fees.

[VillageVicar]

Didn't you just ask this in another thread yesterday? Hmmm...seems awfully familiar!

[Carol Anne]

Check with lloyds the max you can have in a cash advance. Sometimes it's only 90% of your available credit. Next , take your passport/licence and card into any bank displaying the brand you have and withdraw the cash over the counter.
Now call your other card and arrange the balance transfer over the phone.
How easy is that??

[BenDToy]

I would like to comment;
1) Why don't you tell us what you actually want to know, rather than all these theoretical (and extremely naive)questions?
2) Use your card for all of your spending for a couple of months, and that will have the same net effect as transferring the money to your current account.
3) Google "stoozing" and it may tell you what you need to know, but I have my doubts about whether you have the skills and ability to carry it off.

[Carol Anne]

BenDToy

1) Don't be so nosey

2) Maybe he needs all the cash at once for some

thing

3) If we googled for everything then we wouldn't need the answerbank would we?

Don't be so rude and horrible!

[BenDToy]

Carol Anne - you should read a bit more carefully before leaping in with accusations;

1) I am not being nosey. I don't understand why you would say that. This person has asked 3 or 4 very similar questions, and based on them all, my impression is that he is not actually asking the question he wants the answer to. You answered that perfectly adequately but he hasn't bothered to acknowledge it. I was trying to find out what he/she actually wants to know so I can help him properly.

2) I am offering a helpful and perfectly valid suggestion which just may help him to achieve what he is asking - although I am trying to guess what he wants because he isn't really telling us.

2) I am telling him what word to enter into google, and I suspect this may be helpful. It (stoozing I mean) is a very difficult concept to describe (and very risky to implement) but I think that may be what he wants to do. One has to be very well organised and shrewd to implement it. But if he is having to ask the type of questions he has, then he would find it very difficult to be able to make it work well for him, so he needs to consider it very carefully.
If you know what it means then you would understand why I didn't attempt to explain it here. If you don't know then you (as well as he) will have learned something.

You answered his question well (if slightly patronisingly) and a) he hasn't bothered to acknowledge this and b) I don't believe that is what he wants to know that. If you read his other questions you would see that he doesn't actually want to know how to do it. It is possible that he wants to do this but iwishes to avoid (or minimise) cash withdrawal and/or balance transfer charges. If you had taken the trouble to read his other questions, and other people's answers (Ethel and VV) then perhaps you would see the points I am making and be less dismissive and rude to me. Thanks for your contribution.