Can I Make Multiple Balance Transfers?

Can you make multiple balance transfers in the UK in 2020? We have seen this question a lot recently.

Multiple balance transfers usually occur in one of two different ways :-

  • You could be looking to make multiple balance transfers from several of your existing credit cards onto a new 0% balance transfer credit card
  • Alternatively, you could be planning to make repeated multiple balance transfers, from one card to another, at the end of each introductory balance transfer period.

Multiple Balance Transfers From Several Different Cards

Multiple Balance Transfers

If you currently have several different credit cards, all with an outstanding balance on them, then it is possible, and indeed quite common, to apply for a balance transfer credit card and make multiple balance transfers on to this new credit card.

The process for making multiple balance transfers is quite simple. You apply to make a balance transfer as normal. This transfer request can be made online or by telephoning the customer services number of your new credit card company.

Then you simply provide the details for each existing card in turn, with the amounts you wish to transfer. For further details see our guide on how you transfer a balance from one credit card to another.

There are three issues to be aware of when you making multiple balance transfers in this way:-

  • You will need to be given a large enough credit limit on the new card to allow you to make all of the balance transfers. If your new credit limit is not high enough, then you will not be able to transfer all of the outstanding balances.
  • You will need to pay a balance transfer fee for each balance transfer that you make. This fee should not be any higher than if you were transferring one large amount. Although do watch if you are transferring very small amounts. In this case the minimum balance transfer fee, if it exists, may end up costing you slightly more overall.
  • Finally, and most importantly, you will need to find a new credit card that is not issued by any of your existing card companies. This  is because you can not transfer a balance between cards issued by the same company. Use our compare balance transfer credit card page to avoid this issue by selecting your existing cards.

Some of the most popular featured 0% balance transfer credit cards include all of the following :-


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Card Offers

Balance Transfers:
0% for 25 Months
Balance Transfer Fee:
1.5%
Purchases:
0% for 3 Months
Representative APR:
21.9% APR (variable)
More Information

Card Details

HSBC Balance Transfer*
  • 0% interest on balance transfers for 25 months made within first 60 days of account opening
  • 1.5% balance transfer fee (minimum £5)
  • 0% interest on purchases for 3 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • home&Away rewards programme giving you instant discounts from well-known brands
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

HSBC Balance Transfer*
  • You have an annual income or pension before tax of £8,500 or more
  • You are a UK resident
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions

Card Offers

Balance Transfers:
0% for 28 Months
Balance Transfer Fee:
2.85%
Purchases:
0% for 6 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

M&S Transfer Plus*
  • 0% for 28 months on balance transfers made within 90 days of account opening
  • 2.85% balance transfer fee, minimum £5
  • 0% on purchases for 6 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

M&S Transfer Plus*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 18 Months
Balance Transfer Fee:
2.9%
Purchases:
0% for 18 Months
Representative APR:
22.9% APR (variable)
More Information

Card Details

HSBC Purchase Plus*
  • 0% interest for 18 months on balance transfers made within first 60 days of account opening
  • 2.9% balance transfer fee (minimum £5)
  • 0% interest on purchases for 18 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • home&Away rewards programme giving you instant discounts from well-known brands
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

HSBC Purchase Plus*
  • You have an annual income or pension before tax of £8,500 or more
  • You are a UK resident
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Representative Example: 22.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions

Card Offers

Balance Transfers:
0% for 18 Months
Balance Transfer Fee:
1.5%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

Nationwide Member Credit Card*
  • 0% on balance transfers for 18 months if made within 90 days of account opening
  • 1.5% balance transfer fee within first 90 days, after that 2.4% fee applies, minimum £5
  • 0% on purchases for 3 months from date you open your account
  • Unlimited commission-free purchases abroad
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

Nationwide Member Credit Card*
  • Must be a Member of Nationwide. This means you already have a current account, mortgage or savings account with Nationwide
  • You are a UK resident
  • You have a minimum income of £5000 per year
  • You have a good credit history
  • You are aged 18 or over
More Information
Must be a Member of Nationwide. This means you already have a current account, mortgage or savings account with Nationwide
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 20 Months
Balance Transfer Fee:
2.9%
Purchases:
0% for 20 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

M&S Shopping Plus*
  • 0% for 20 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 20 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

M&S Shopping Plus*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

Multiple Balance Transfers From One Card To Another

If you have previously done a balance transfer and your introductory balance transfer period is about to come to an end, then what are your options?

Well you can simply do another balance transfer. It is possible to do another balance transfer to another new credit card, so effectively making multiple balance transfers.

In this instance of course you are reliant on being approved for a new credit card. You require a new card, each time that you need to transfer the outstanding balance. The credit crisis of a few years ago has increased the difficulty of being approved for a new credit card. As a result, you should not automatically assume that you can transfer a balance for ever.

We would always advise that you do make more than the minimum repayments of your outstanding balance every month. This will avoid the situation that you are left with a high outstanding balance and no opportunity to transfer it again.


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