Can you transfer multiple credit cards with a balance transfer?

How to conduct multiple balance transfers on the same card

Most balance transfer applications will allow you to request one or more balance transfers when you apply. Follow these steps to request multiple transfers:

1. Select the balance transfer credit card you’d like to apply for.
2. Fill out the application with your personal and financial information.
3. When you reach the balance transfer section, include the amounts and account numbers you’d like to transfer from.
4. Submit your application and wait for a decision.
5. Continue making payments on your old cards until the balance transfers are complete.

If the application doesn’t have enough fields to list all of the accounts you want to transfer, contact the provider to confirm whether you can request additional ones be added before you finish your application.

Can I transfer balances from another person?

Depending on your credit card issuer, you may be able to transfer your balance to or from another person.

You may also be able to open a joint credit card account and transfer debt to it. Then you and the other cardholder will share legal responsibility for the debt.

Can I transfer balances between cards issued by the same bank?

Unfortunately, your bank likely won’t allow this. That’s because credit card providers use balance transfer promotions to attract new customers, rather than give current customers a break from interest.

Other balance transfer tips

Remember, the clock is ticking. Try to pay off as much of your debt as possible during the promotional rate of interest. Plan out your transfer in advance to get the most out of it.

You can read more about successfully completing a balance transfer by using our complete balance transfer guide.

Mistakes to avoid when transferring multiple balances to one card

Transferring multiple balances means you’ll need to keep track of quite a few details. That said, stay vigilant and avoid these common balance-transfer mistakes.

Forgetting about the offer deadline

With many balance transfer credit cards, you must transfer your balances within a certain period to qualify for the intro APR. For example, the Citi Simplicity® Card offers a 21 months intro APR period, but only on transfers you make within 4 months.

To make sure you get your intro APR, take a look at your provider’s card disclosure.

Not keeping track of payments on your old cards after making your balance transfers

Balance transfers usually take between seven and 15 days to complete. Before that time, you must make at least the minimum payments on your old card bills.

Not factoring in the balance transfer fee

The balance transfer fee is usually between 3% and 5% of each transaction. That means a $3,000 transfer might cost you $150. Add up a few balance transfers, and you could pay a larger fee than you thought.

To make sure the fee is worth paying, calculate how much you’ll save with your balance transfer.

What to do with older accounts

So, you’ve transferred your balances to your new credit card. Should you close your old accounts?

You can close them if you want, but it may be a good idea to leave them open. Keeping your old accounts intact helps you keep your total credit utilization low, which in turn helps you keep your credit score high.

Keeping your old accounts open helps your credit score in another way: by increasing the average age of your credit accounts.

Learn what makes up your FICO score to get the full scoop on how the factors work together.

Bottom line

It’s normal to feel apprehensive about transferring multiple balances to the same card. Take the process step by step, and ask your provider if you’re unsure about the rules.

While making your balance transfers, keep detailed records of what transactions you’ve initiated. Also, record important details about your intro APR and when you should pay off your debt.

And don’t forget to take your time when comparing balance transfer cards to find the one that’s going to best suit your needs.

Frequently asked questions

• Do I still need to make payments on a balance transfer card with 0% intro APR?

  Yes. You must make at least the minimum payment on your balance each month, or you may lose your 0% intro APR.

• How long will it take for my balance transfer to complete?

  It usually takes between seven and 15 days for a balance transfer to go through after you’ve received the credit card agreement. It will vary based on your credit card provider.

• What happens if I don't pay off my balance before the 0% introductory APR expires?

  Any remaining balance will start accruing interest at a higher interest rate, also called the ongoing APR. That’s why it’s usually a good idea to pay off your balance before your 0% intro APR period expires.