Hi guys.
Please let me know is BT can work like below.
Let say I have credit card A, B, C & D. And I know I will spend 4.8k next month using Credit Card B.
Step 1) Balance transfer Credit Card B MYR 4800 to Credit card A with 0% processing fees and 0% interested for 12mo. So I need to pay MYR 400per month for 12 months
Step 2) After I pay 2 month. I balance transfer again the remaining MYR 4000 to another credit card C with 0% processing fees and 0% for 12mo. So now I reduce my monthly commitment to MYR 333.33 per mo for 12months
Step 3) Pay another 2 month MYR 333.33 to Credit Card C. And transfer the remaining MYR 3333.33 to Credit card D with 0 processing balance transfer and 0% for 12mo.Then now my commitment will reduce to MYR 277.78 per month. Without any interest. But my installment/monthly commitment become lower
Any idea is this will work? 😂 Because I see no issues as long as I not over my credit limit for each card. Then it should be able to get approval.
P/S: But I will need to be very discipline on paying other debt from credit card A B C. Else I will make my self more debt.
In your case, i would suggest you to balance transfer monthly 400 on credit card B + your other spending with credit card A, B and D into credit card C. (make it into 1k and you can make BT already)