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How soon after i do a balance transfer, can i do another balance transfer?
muffinman
Posts: 10 Forumite
in Credit cards
Hi, not posted here for 5 years, but been reading other posts. I have 2 credit cards and until a year ago, was on 0% deals with both. I missed a payment and lost deals. Fast forward to now; I have same 2 credit cards, and just got offered a 0 % balance transfer by card one, so i transferred the balance off card two to card one this week. Today i have been offered a 0% balance transfer deal by card two, SO as card two is currently clear, i was thinking of transferring the whole balance back to card two so i pay no interest at all on my entire debt til feb next year, by which time it will be paid off. My question is, can i do it within a few days/ weeks of having transferred the balance to card one or will i have to wait? I have til march i think until offer runs out. I will have to pay another balance transfer fee, but both transfer fees added together is way less than the interest i would be paying.
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Comments
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What's the point in transferring the whole balance and paying a bigger BT fee if a part of the balance is at 0%? Transfer the interest-bearing part and pay the remainder off when 0% expires instead of postponing this until Feb.I have same 2 credit cards, and just got offered a 0 % balance transfer by card one, so i transferred the balance off card two to card one this week. Today i have been offered a 0% balance transfer deal by card two, SO as card two is currently clear, i was thinking of transferring the whole balance back to card two so i pay no interest at all on my entire debt til feb next year, by which time it will be paid off.
Yes, you can.My question is, can i do it within a few days/ weeks of having transferred the balance to card one or will i have to wait?0 -
Because if i now transfer the whole balance to my empty card, I pay no interest on my whole balance instead of just part of it, even if i have to pay another BT fee.0
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But you're already paying no interest on half of it since the first BT. You only need to BT the other half in the other direction.0
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I see what you mean. Never thought of that. Thanks. Done now, so back on 0% deals, yay!0
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