Credit card shuffle

[crazy about cars]

Currently offered a 2 year interest free balance transfer deal which could lighten the current financial burden. Would the below work?

Card A (2 year 0% interest balance transfer deal). Current balance : £5,000
Card B (1 year 0% interest on opening but 3 months left). Current balance : £2,000

What I am thinking of doing is to balance transfer from Card A to Card B and then back again to Card A so Card B will have zero balance when the 0% deal runs out.
This would also mean I would get the full £7,000 on 0% deal for Card A.
Card B's rate is not competitive so I plan to terminate it after the debt is paid off.

Is this a feasible solution? How often can you balance transfer and how long does it usually take?

[contractor]

Is there a fee for the actual balance transfer?

Transfer normally happens by the end of the next working day

[crazy about cars]

contractor said:

Is there a fee for the actual balance transfer?

Transfer normally happens by the end of the next working day

Yes, there is a 3.1% fee. Shame my other card is a 0% interest purchase card so I can't balance transfer to it.

I called the customer service for Card A and was told the longest balance transfer would take is 10 days.

[contractor]

Is the 3.1% fee applicable to both cards?

You'll end up paying 3.1% of the total each time you transfer so that will be:
5000 A>B = £155 fee. Balance on B is now 7155
in 3 months you'll pay maybe 300 quid in payments
6855 B>A = £212 fee.Balance on A is now 7067

Invariably deals like this don't usually work out too well.