US vs UK iTunes Accounts and $$

Have just moved here (yeah!) and DH is finally able to jailbreak his old US iPhone 3GS for me (we're waiting a few months for the 5 to come out before investing in a UK phone for me). My current 3GS is connected to my US iTunes account. I have about $30 left in credit in that account. Everyone kept telling me to hold off buying apps & stuff until I moved but then I realized my $$ might not transfer to my new UK account which means I could lose the money.

Then I read this thread & I'm thinking maybe it's not a big deal? http://talk.uk-yankee.com/index.php?topic=69925.0

If I'm reading the above thread correctly, I can swap pretty seamlessly between a US & UK acct on the same phone? So if I need to buy something (music, books, apps), I just need to use my US account. And then if I need to update a UK purchase, sync with that account. Can I really just go back & forth between accounts without any worry of screwing things up?

TIA,
Shelly

I have just been though this with iTunes as my sister gave me a fifty dollar iTunes card, you can note use an American iTunes card in the Uk, they are apparently two separate entities. I had to give the card to my tithe.

Yep, I have kept my US iTunes account here (I did have to email them at one point as it was momentarily impossible for me to purchase music while I was over here).  I also have a UK one. The only annoying thing is that updating can be tedious and I tend to use my US one 99% of the time and the UK one only sporadically.

I get us itunes giftcards all the time and am able to use them. You just need to change your location to the US in the settings and it will work just fine. I think same applies for your remaining credit. You can use it up and then change your location to the UK and enter your uk debit card details.