hello everyone,
Sorry for the delay in coming back here!
I can't thank you all enough for the really useful information. Yes it appears bizarre that I use a CC to pay off a CU loan, (it should be the other way around, but possibly this is another example of how CU's are being restricted/hampered to provide the most cost effective borrowing to their members?
Anyway to clarify
1. One of my CC accounts (currently NIL Balance) will allow me a funds transfer from the CC to my current account with no upfront charge for this - it's an electronic payment to my current account.
2. I've spoken with my new CC provider who have no problem with how the transfer balance on my "old" CC card was arrived at - ie they have no issue with whether it was purchases or cash withdrawl. They're happy to take the balance "as is" and give me an offer of 0% on the transfer balance for 6 months.
3. I think timing is key to this..!!
I have to wait until I get the new card/account set up, I then withdraw the cash/EFT from the old CC, go to the CU and pay off the CU loan.
4. I then tell the new CC company to transfer the balance of the old CC to them, to avail of the 0% interest rate for 6 months, thus avoiding interest charges on the cash/EFT withdrawl.
5. I then have 6 months to pay off the outstanding CC debt.
Or am I missing something here...!!
Thanks again.