Is it Possible to do a 2nd Balance Transfer?

Straight up, it is possible to do a second balance transfer. However, there are a couple of associated consequences that can possibly arise out of second, or continuous balance transfers.

The Affect on your Credit Score

Applying for more credit, and increasing your ‘debt:credit ratio’ are two possible detriments of continuous balance transfers. To find out more about your debt to credit ratio, see here.

Running the Risk of Rejection

If you’re strategy for credit cards and debt consolidation involves constant balance transfers, you’re running the risk that your next credit card application will be denied. This is always a possibility, particularly since constant applications for new credit can dent your credit rating.

The Final Deal

When it comes down to it, you can easily juggle around your credit card balances with balance transfers, you’ll just need to be wary of your credit score. Strategise accordingly and accurately, as the last thing you want is a $5000 balance you can’t pay off until you’re back on another 0% for 6 month offer.

See the top balance transfer credit cards available in Australia for online application.

Related posts:

1. The Balance Transfer Process
2. Credit Card Balance Transfer: 9 Important Facts on Balance Transfers
3. How does a Balance Transfer Affect your Credit Rating?
4. How A Balance Transfer Could Have A Negative Impact On Your Credit Score
5. Life of Balance Transfer Credit Card Tips

Best Balance Transfer Credit Card Offer

The Bankwest Lite MasterCard is Australia's cheapest credit card offer, giving you the lowest MasterCard purchase rate of just 9.99% p.a. as well as a long balance transfer offer on your existing credit card balance at 1.99% p.a. for 12 months!

Click here to access the Bankwest Lite MasterCard terms & conditions.

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
Bankwest Lite MasterCard	Editor's Choice: Cheapest Credit Card The lowest stress mastercard, with Australia's lowest MasterCard purchase rate of just 9.99% p.a.	9.99%	20.99%	1.99% for 12 months	$59	55
St George Vertigo	Editor's Choice: Best Bank Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Citi Clear Platinum Visa	Editor's Choice: Low Interest An excellent low interest credit card offer with 11.49%interest on purchases and 0.99% for 6 months on balance transfers .	11.49%	20.99%	0.99% for 6 months	$49 (First Year, Save $50)	55
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 12 months on balance transfers	15.99%	15.99%	1.99% for 12 months	$0	55