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 23 months
Balance Transfer Fee:
1.99%
Purchases:
0% for 3 months
Representative APR:
19.9% APR (variable)
More Information

Card Details

NatWest Longer Balance Transfer
  • 0% on balance transfers for 23 months from account opening
  • 1.99% balance transfer fee
  • 0% on purchases for first 3 months from account opening
  • Lock and unlock your credit card in app
  • Manage your card 24/7 online and by telephone banking
  • Annual Fee: None
More Information

Application Criteria

NatWest Longer Balance Transfer
  • You are a NatWest customer
  • You are a UK resident
  • You are earning at least £10,000 per year
  • You are aged 18 or over
More Information
Only available to customers who have a current account, savings account, credit card or mortgage with NatWest
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)
No balance transfers allowed to this card from NatWest, RBS or Ulster Bank credit cards

Card Offers

Balance Transfers:
0% for up to 29 months
Balance Transfer Fee:
2.95%
Purchases:
0% for 3 months
Representative APR:
19.9% APR (variable)
More Information

Card Details

TSB Platinum Balance Transfer
  • 0% interest for up to 29 months on balances transferred within first 90 days
  • 2.95% balance transfer fee during first 90 days, 3% fee applies afer 90 days
  • 0% interest for the first 3 months on purchases
  • Internet fraud protection and Clicksafe
  • Apple Pay and Android Pay
  • Annual Fee: None
More Information

Application Criteria

TSB Platinum Balance Transfer
  • You are an existing TSB customer
  • You are not currently declared bankrupt, have CCJs or subject to IVA
  • You have a good credit rating and regular income
  • You are a UK resident
  • You are aged 18 or over
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)
No balance transfers allowed to this card from TSB credit cards

Card Offers

Balance Transfers:
0% for up to 20 months
Balance Transfer Fee:
3%
Purchases:
0% for up to 20 months
Representative APR:
20.9% APR (variable)
More Information

Card Details

Sainsbury’s Dual Offer
  • 0% interest on balance transfers for up to 20 months
  • 3% balance transfer fee, minimum £3 on transfers made at application
  • 0% interest on purchases for up to 20 months
  • Collect 2 Nectar points per £1 spent on Sainsbury's shopping and fuel
  • Collect 1 Nectar point for every £5 spent on your card elsewhere
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Sainsbury’s Dual Offer
  • You have a permanent UK address
  • You have not been declined for credit in the last month
  • You do not have a history of bad credit
  • You are aged 18 or over
More Information
To apply for a credit card you must be a Nectar member and should have been one for at least 6 months
Representative Example: 20.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.95% p.a. (variable)
No balance transfers allowed to this card from Sainsbury’s credit cards

Card Offers

Balance Transfers:
0% for up to 20 months
Balance Transfer Fee:
2.95%
Purchases:
0% for up to 20 months
Representative APR:
19.9% APR (variable)
More Information

Card Details

TSB Platinum Purchase
  • 0% interest for up to the first 20 months on balances transferred within first 90 days
  • 2.95% balance transfer fee during first 90 days, 3% fee applies afer 90 days
  • 0% interest on purchases for up to the first 20 months
  • Internet fraud protection and Clicksafe
  • Online card servicing
  • Annual Fee: None
More Information

Application Criteria

TSB Platinum Purchase
  • You are an existing TSB customer
  • You are not currently declared bankrupt, have CCJs or subject to IVA
  • You have a good credit rating and regular income
  • You are a UK resident
  • You are aged 18 or over
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)
No balance transfers allowed to this card from TSB credit cards

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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