two balance transfers from same card?

danco

I'm thinking of applying for a balance transfer card, as I have some large bills and purchases in the next few months. Not absolutely necessary, as I can pay these from savings, but a card would let me pay over a period without incurring interest.

The card I am thinking of is the RBS balance transfer card, as my current account is with RBS and they have 0% transfer fee as well as 0% interest.

I think I checked that I can transfer from three cards within the first three months. Can one transfer from one card now and from the same card later on, or does it have to be three different card?

eskbanker

Wouldn't it make more sense to obtain a 0% purchases card rather than a 0% balance transfer one, if possible?

CliveOfIndia

As above, a 0% purchase card may be simpler.

But in answer your question, there's nothing to stop you doing two separate transfers from one card.  As long as the transfers are done within the qualifying time-frame, and as long as the BT card has sufficient limit to accommodate the transfers.

Do remember that you can't usually transfer between cards owned by the same group, so just check that an RBS card will accept transfers from your existing card.

One other thing to consider might be any reward points that are on offer.  Depending on the amount you're looking to spend, it may potentially be worth applying for a card that offers cashback or points of some kind, use that for the purchases then clear it at the end of the month with your savings.

Obviously you'd need to weigh up whether any rewards you'd earn are worth more to you than the interest you'd be losing by having to spend your savings - but it's something to think about.

danco

I had thought of a 0% purchase card. But I checked a couple suggested by MSE and they offered a much lower limit than the balance transfer card.

As far as I am aware, RBS is only in the same group as NatWest and Ulster Bank, so transfers from Halifax, Barclaycard, and possibly Santander would be fine.

How long does it take from acceptance for a balance transfer card to when one can actually transfer? That is, would I have to wait until I physically got the card and its PIN, or could I do it using the RBS app even before receiving the PIN? Mail to my address is somewhat unreliable and I have had problems in the past with cards not providing me with full details quickly.

surreysaver

You can usually do the balance transfer as part of the application process, in which case the transfer would be completed before you're even in possession of the card.
You don't use the PIN for a balance transfer, you only need the PIN when using the credit card in a card machine 
You only need the card number of the card you're transferring the balance from, not the card you're transferring it to

danco

Thanks, I was rather hoping that would be how it worked, but was not sure.