- No Late Fees, No Penalty Rate, and No Annual Fee... Ever
- 0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
- The standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
- Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges
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Can I do multiple balance transfers on the same card?
Transfer as much debt as your new card's limit allows.
Transferring multiple balances onto one credit card is a solid debt consolidation strategy. But before you request a balance transfer, read the card’s terms and conditions to see how much can you transfer.
In most cases, you are limited to either a specific amount, say $5,000 or $15,000, or up to 100% of your credit limit including the balance transfer fees.
Can I transfer balances from two credit cards onto one?
In most cases, yes — you can transfer balances from two or more credit cards onto one. If you’re not sure whether your card provider will allow this, call them and ask.
How many balance transfers can you do on one card?
This largely depends on the card issuer, although most of them will allow as many balance transfers as your transfer limit allows.
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:
- Select the balance transfer credit card you’d like to apply for.
- Fill out the application with your personal and financial information.
- When you reach the balance transfer section, include the amounts and account numbers you’d like to transfer from.
- Submit your application and wait for a decision.
- 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.
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 18 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.
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
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