Can you transfer multiple cards with a balance transfer? | finder.com

Can you transfer multiple credit cards with a balance transfer?

Transfer as much debt as your new card's limit allows.

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Most providers allow you to transfer two to five balances to one card. As long as your total transfer balance doesn’t exceed the balance transfer limit — usually between 70% and 100% of your credit limit — you shouldn’t have an issue making multiple balance transfers on the same card.

Compare balance transfer credit cards

%
Name Product Amount saved Balance transfer APR Balance transfer fee Recommended minimum credit score Filter values
0% intro for the first 15 months (then 16.24%, 22.24% or 26.24% variable)
3%
670
Earn unlimited 1.5% cash back on every purchase, every day.
0% intro for the first 18 months (then 13.24%, 17.24% or 21.24% variable)
$10 or 4% of the transaction, whichever is greater
670
An 18 months 0% intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card. See Rates and Fees
0% intro for the first 12 billing cycles (then 15.99% to 25.49% variable)
$5 or 3% of the transaction, whichever is greater
670
When you spend $500 on your card within the first 90 days, you’ll receive a $150 cash back bonus. Rates & Fees
0% intro for the first 12 months (then 14.99% to 25.99% variable)
$5 or 3% of the transaction, whichever is greater
680
Earn $250 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & fees
0% intro for the first 12 months (then 15.24%, 19.24% or 25.24% variable)
$10 or 4% of the transaction, whichever is greater
670
Earn 3% cash back on up to $10,000 in the first 12 months, then 1.5% on all purchases. See Rates and Fees.

Compare up to 4 providers

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.

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2 Responses

  1. Default Gravatar
    SaulMarch 19, 2018

    I put 300 dollars on a few goggle play cards cause the man was suppose to give $35,000 to me his name was Jerry brown and he connected me to another man name Daniel carmen out of new jersey from easy payday loans and never received the money then they was suppose to give back the $325.00 and never received that either

    • Avatarfinder Customer Care
      JoshuaMarch 25, 2018Staff

      Hi Saul,

      Thanks for getting in touch with finder.

      I’m sorry to hear about your situation. If you suspect that you have been deceived by these people, it is highly advisable to report this to the local authority. They will most likely help you find these people and bring your money back.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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