How many times can I apply for the same 0% credit card?

jcarmel

Hi all. I have never had a credit card and am considering getting a 0% one to spread out the cost of pricey purchases and improve my credit score. I have just discovered that you can only have 0% for a fixed period per credit card. Could I, for example, get the Virgin Money card one year, then Barclaycard the 2nd year, and then go back to Virgin Money for the 3rd year and still be eligible for the entire 0% period, exactly as I was the first time?
Thanks in advance for your help!

[Deleted User]

It depends on the acceptance criteria for each of the cards.

Never do anything to change your credit score though. Decide if you want to build credit history or benefit from 0% lending.

However, if you've never had a credit card, going straight in for a 0% offer may be difficult.

taurustime

The fact that you've never had a credit card before might go against you as you have no track record of management or payments. You might take Martin's Credit Card Eligibility Test to see how many, if any, credit cards might be available to you. See https://www.moneysavingexpert.com/eligibility/ Good luck! Whilst I could easily pay off the debt in question, I've moved an original credit card debt using four '0% interest on balance transfers' from one card to another for the past 6 years. The key if you're paying off a balance transfer is NEVER to spend on that card! Ignore any 'special offers' and use it ONLY to decrease your balance transfer by the minimum amount payable each month up to the lapse date of the 0% interest period. 2-3 months ahead of the lapse date, apply for your next credit card and transfer what's left from credit card #1 to credit card #2. I've taken an original £6,200 balance transfer to around £1,600 currently. The final balance will be reduced to £0 in April 2023 without paying any interest at all over the past 6 years other than the modest 1% to 1.75% in balance transfer fees.

born_again

jcarmel said:

Hi all. I have never had a credit card and am considering getting a 0% one to spread out the cost of pricey purchases and improve my credit score. I have just discovered that you can only have 0% for a fixed period per credit card. Could I, for example, get the Virgin Money card one year, then Barclaycard the 2nd year, and then go back to Virgin Money for the 3rd year and still be eligible for the entire 0% period, exactly as I was the first time?
Thanks in advance for your help!

Just remember that you need to aim to pay any balance off by the end of the 0% term. Yes you can/might be able to get a 0% balance transfer card to move it over.
But as many found last year to their cost... 0% offers can & will dry up leaving you with a high interest rate to pay.

Sandtree

jcarmel said:
Could I, for example, get the Virgin Money card one year, then Barclaycard the 2nd year, and then go back to Virgin Money for the 3rd year and still be eligible for the entire 0% period, exactly as I was the first time?

In theory yes but you would need to read the T&Cs at the end of year 2 as some companies overtly state you cannot get introductory offers within X years of your last one and others you may find yourself offered a product without 0% rate.

You should always have a plan B to cover the scenario that at the end of your 0% rate that you are unable to secure another similar offer.

jcarmel

Thank you everyone for your advice  I will think it over!