Convoluted yes, but it could work for a short period as long as you have a decent credit limit. Though I’m not sure of the longer term benefit as you have to pay back the credit card company everything in full after 6 months to avoid being charged interest.
Here’s how I think you’re proposing it would work:
Say, for example, you have a credit card credit limit of €3k.
1. You purchase €1k of goods on your credit card, (normally charged at say 16% APR if not paid within 60 days).
2. You then do a money transfer of €1k from your credit card to your bank account at 0%.
3. You now have a €2k balance outstanding on your credit card account.
4. Then you transfer €1k from your current account to clear the €1k credit card balance upon which you would have been charged interest.
It works for 6 months just. Then you have to pay back the credit card in full so as to avoid interest charges.
Not sure why you would bother. Just use your current account debit card.
My head is melted.