Answer Base

With all these 0 % offers for first 8 months surely if you go to the max say £10000 on ten cards put the £100000 in a high interest bank account of perhaps 6% you will obviously earn 6 grand over a year changing over companys ,but is it legal?

This technique was in the media last year as one method of paying your mortgage with other peoples money.there is (was) only one card (i think it was c & g) that would let you move money out of the card into an account to earn interest.if i remember the technique was to:1. open a c & g card2. take out another interest free card and transfer the maximum allowed to the c & g card. this is legal and will be interest free, but, you will still have to make the minimum monthly payments.3. move the sum to a high interest account.4. at the end of the interest free period, you must pay back the outstanding sum on the card.5. take out another interst free card and repeat the procedure.downside:1. you must not not spend anything else on the cards or you will be clobbered for interest immediately on that sum.2. more than likely that the banks have shut this little loophole down.3. everytime you take out a new credit card - you take a hit on your credit rating.i know one person who did use this trick and was surprised that the card companies actually allowed him to open a card and immediately transfer thousands of pounds off it.