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Balance Transfer Questions

Established Member

Balance Transfer Questions

I have a few credit cards that I did a BT on and now are at a zero balance and on the new card at 0%.  I have a big purchase that I need to make, so could I use the card that is now at a zero balance and then do another BT to the same card that I did before?  Or would the card frown on that?  Hope this makes sense...

Message 1 of 6
5 REPLIES
Senior Contributor

Re: Balance Transfer Questions

Does the BT card have 0% on purchases too?
If not, what's the benefit of using the card you just paid off?
Is there a BT fee on the BT card?
Also..
If you just paid it off, should you really be racking it back up again?

Consider the above, then make a decision :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 2 of 6
Established Member

Re: Balance Transfer Questions

So basically, here is where I am at.  The new card that I used to BT everything to is 0% for 12 months with no BT fees.  But the purchase APR is 17% so that is why I was thinking of using the old cards again and then doing another BT to the new one so it would be 0% again.  I have all month to do the BT's for 0%...

Message 3 of 6
Senior Contributor

Re: Balance Transfer Questions

Why would either card care?  As long as you're within the terms...

 

As far as I can tell the items to be concerned about are the utilization on your 0% card, being able to pay off the balance before the promo ends and associated fees.

Message 4 of 6
Established Member

Re: Balance Transfer Questions

agreed and we have a plan in place to have it all paid off in 12 months, so that I am not too concerned about.  Just wanted to make sure since the BT card already paid off the old card and didn't want any red flags if they send them another check.  Thanks for the feedback!

Message 5 of 6
Senior Contributor

Re: Balance Transfer Questions

In that case, they won't care.
One time I paid off a bt, then cashed a new bt check lol... Just gives you more time :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 6 of 6