Be careful! This will be done as a balance transfer. The CC companies don't see it as using real money, just moving your debt from one place to another. Thats their excuse for not giving points. Otherwise you could max one card and spend a day paying back and forth racking up unbelievable points. Balance transfers also are not free. You'll get hit with a charge every time you transfer debt from one card to another, the rate dependent on your agreement with the company but usually in the neighborhood of 15%. The idea is to stop deadbeats from racking up cards, and cycling the debt to avoid damaging their credit while they open up new accounts.Originally Posted by Bertuzzi
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