How many transfers of same credit card OK?

undecided1

Thinking of buying a car and whilst I do have the money in the bank I'd rather as much of it as possible sat there earning interest than have to use it.

Was thinking of getting a zero fee 0% credit card (likely Halifax or AA) and then transferring my usual monthly credit card balances to the 0% credit card rather than paying off in full each month as I usually do. Would probably also look at making some pre planned big purchases within the zero fee period to maximise amount of 0% money to make it as worthwhile as possible. The zero fee 0% credit card would be zero fee for 90 days or 3 months.

I've never bothered with 0% balance transfers or similar before so have a question that I can't find the answer to from searching, can anyone confirm for me?

Is it possible to transfer the same credit card multiple times?
ie balance transfer my full AMEX balance in month 1 then spend on AMEX again and balance transfer full AMEX balance in month 2 etc? - Over 3 months I could transfer 3 times and still get my AMEX cashback as usual those months.

All the info I can find from searching is about transferring multiple different credit cards once each or moving from one 0% card to another after deal ends.

Any help on this would be appreciated or any other suggestions/problems spotted with this idea, I could ring AA/Halifax tomorrow of course but interested if anyone else has done similar and since I can't find this answer anywhere it will probably be helpful for others who are unsure.

Thanks

grumbler

Yes, as many times as you wish, although problems with transfers from Amex are pretty common at many providers.

Also, if the seller accepts CC payments without extra fees you can consider a card with 0% on purchases.

undecided1

Sadly they don't accept credit cards or I'd have bought on cashback credit card and then moved balance

Useful to know thanks. What sort of issues are common with AMEX transfers? Not transferring in time or just being refused as a card to transfer/other issue? I do have a Nationwide cashback card but that's only 0.5% so I'd be losing 0.75% compared to AMEX if I used that instead (in the few places that actually accept AMEX of course!)...

thanks

zerog

I've never had any problems with transferring from Amex. If the provider accepts a transfer from Amex then it will go through without problems.

The only provider which hasn't has been Tesco which couldn't transfer from a BA Amex but could do Amex charge cards. Tesco didn't recognise the 3717 issuer identification of BA Amex as a valid card

kate5555

Glad to find this thread as I was just wondering the same thing about multiple balance transfers.


I also have an Amex cashback card and tried to do a balance transfer online through Nationwide internet banking but it doesn't accept my card details (same problem as the above poster I think). I guess I will need to call to do it which is a bit of a pain but worth it for the extra cashback!