How soon after i do a balance transfer, can i do another balance transfer?

muffinman

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.

grumbler

muffinman wrote: »

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.

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.

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?

Yes, you can.

muffinman

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.

msallen

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.

muffinman

I see what you mean. Never thought of that. Thanks. Done now, so back on 0% deals, yay!

iAMaLONDONER

muffinman wrote: »

I see what you mean. Never thought of that. Thanks. Done now, so back on 0% deals, yay!

Please don't forget to post in the next half a decade lol!