Transferring from card to card

[jeb]

For over 2 yrs now I have been transferring Ccard balances from one card to another - 2 of the 5 cards I have at present have 0 interest on them and the highest I have is 6.95%.

The last tnx I made was some 4 months ago to one of my BofAmerica accounts - is this going to be a problem for me?

Tks all - jb

[AngelinaCatHub]

Yes it will. You need to start paying on one last card. I would advise for six months without transfer. It looks like a Ponzi scheme. You don't want that and you don't want to look like you are paying preferential. ONly my opinion. 'Hub

[jeb]

Oh, I have been paying every month - never missed a payment in my life on anything until this month.

What I have been doing is moving from one Ccard to another to keep the interest rates low. - jb

[TEW]

you should be good to go jeb 90 days for cash advances

[Bandit]

Oh, I have been paying every month - never missed a payment in my life on anything until this month.

What I have been doing is moving from one Ccard to another to keep the interest rates low. - jb

I understand why you do that but!

dont do any more transfers like that. all you are doing is creating new debt & that is how it will be viewed in court. Even though it is 2 years old, all the bank & trustee will see is you just got a new loan.

the older the debt, the better.

[jeb]

There were no cash advances - just tnxing amounts from one Ccard to another to get a better interest rate.

I get 8-10 offers a month - the last tnx was in May, I think.

And these tnxes are between cards that I already have a balance on, not new cards. - jb

[TEW]

There were no cash advances - just tnxing amounts from one Ccard to another to get a better interest rate.

I get 8-10 offers a month - the last tnx was in May, I think.

And these tnxes are between cards that I already have a balance on, not new cards. - jb

they are still cash advances

[ansky0007]

But in a balance transfer situation the bank can go after the other bank to try and get their funds back. Its not the same as cash where you could spend it on anything. They are looked at differently.