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Who wins?

Suppose that I have being using credit card A, paying off the amount owed each month at the last possible moment to ensure that I pay them no interest but maximise the interest my own money earns.

Now suppose that I subscribe to card B, which is offering, for several months, to permit me to transfer the debits on card A to card B, no interest being payable on the increasing amounts outstanding on B.

Now suppose that, instead of paying A at the last possible moment, I transfer the debit to B several weeks earlier than the payment to A would have become due.

My theory is that A gains from this arrangement because it gets the money several weeks earlir than it would have under the old regime. As I am loyal to A (having used them for 30 years), I hope that this is the case.

Is my theory correct? Perhaps B charges A in some way, which negates the apparent gain? Does anyone know?

Reply to
gordon
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Yes, you are right, A would be very slightly better off (with today's low interest rates, about 0.2% if they got the money 3 weeks earlier). Although why you would care is beyond me.

Reply to
Andy Pandy

"Andy Pandy" wrote in message news:bq30r3$4db$ snipped-for-privacy@news8.svr.pol.co.uk...

Thanks for that. However, when I ask whether or not 'A' is better off, I am asking if anyone factually knows it to be the case that 'A' is not penalised by 'B', in some manner unknown which might nullify or even reverse my naive theory. Do you, in fact, KNOW that no such penalty occurs?

Besides, 0.2% of what, do you imagine?

[I didn't get where I am today by wondering only about matters which affect me personally, as the saying goes :-)]
Reply to
gordon

Let me get this right, you think B might charge A if you do a balance transfer a few weeks before your payment date, but not if you do the balance transfer just before the payment date? B won't have a clue when your payment date for card A is, so how could they possibly have a charge depending on how close to A's payment date you are??

Whatever, it's a lot less than the amount bank A is making from your card spending.

Reply to
Andy Pandy

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