Help with balance transfer

LondonGirlie

Hi, I’m new to MSE so I apologise if I ask an obvious question.
I’ve just taken out a new credit card for balanace transfer reasons. I misjudged the date of my 2 purchases on my current credit card and so my 2 purchases have gone across 2 statements. My question is: Can I apply for a balance transfer on the same card twice (a month apart) or do I just add the 2 months statement amounts together asking the balanace transfer card to pay it all in one go, meaning my existing card will be in credit for a month? I hope that makes sense, it does in my head!

eskbanker

You need to check out the terms of your new balance transfer card but most allow multiple transfers to be made provided they're all done within a certain number of days/weeks.

Dobbibill

Do the one amount - by the time the BT goes through the other purchase should be showing on the statement making it balance out at £0 on one card and full balance on the BT card. You normally have x amount of days as eskbanker says in which to do it anyway so it shouldn't be a problem waiting for the 2nd transaction to show on the statement.

LondonGirlie

Thank you. I did check the terms and I have 90 days to make up to 5 transfers but what I couldn’t see was if you could transfer from the same card twice. I was worried about there being a problem having a credit amount on my existing card but I guess it would just be for a short amount of time

jonesMUFCforever

I agree with dobbibill - check to see if the second transaction is showing on the card then do one transfer to cover both.

I do this when I do balance transfers.

LondonGirlie

Thank you for your reply. It won’t be showing yet as I’m not actually making then 2nd purchase until next week, my payment date for my existing card is 12 Oct. I’m worried if I wait for the second payment to show on my existing card I will be too late to pay my bill on 12 Oct. so can I tell the BT card I want to pay more than my actual statement will be, or is that fraud?

onlyfoolsandparking

I think your over complicating it. As long as your within the 90 day period and you haven't gone over the 5 transfers? (although that's a new one on me) you should be fine and I have transferred off the same card to another quite a few times.


In answer to paying more than is on your statement, some card providers don't like it, some are not bothered but personally I wouldn't do it I think it shows the card provider you cant add up!

Ben8282

Which credit card is it that limits the number of balance transfers to 5?