Balance Transferring Again After 6 Months

This should work the first time you try it, although you should remember that credit card issuers are entitled to full access to your credit file when you make an application for a new card. If they see that you have lots of credit card accounts open, they may decide that they do not wish to give you one more.

However, our inside knowledge of the credit card industry tells us that banks are always very keen to sign up new customers and will often overlook this possibility in the hope that you will stay loyal to their credit card.

The reality is that there will always be some people who continue to transfer their debt from one credit card to the next, in the same way that there are some people who change their gas and electricity every time someone comes knocking on the door, or every time someone offers a free gift to sign up. Most credit card issuers are prepared to take this risk.

However, remember that sooner or later you will have to find a permanent solution to the problem. If you only have debt on credit cards and no other major financial commitments, we suggest you take a look at our advice on paying off your credit card debt. If you do have other debts and financial obligations, you may wish to consider consolidating your debt into the lowest-interest loan you can find, or if you are a homeowner, consider your remortgage options.