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Q: I was wondering if I can transfer credit card balances from a couple different cards onto one card?
A: You may have found a credit card that offers very reasonable rates on balance transfers and you want to take as much advantage of it as possible. You may not be sure, however, if you can transfer more than one credit card balance to only one specific card. You may be surprised to learn you can as long as you keep a few things in mind.
The most important thing to remember is that you don’t want the balance transfers to cause you to go above the credit limit that your card company allows, or you requested, or was in other ways pre-determined for you. It isn’t going to help anything if you are paying penalty fees for exceeding credit limits, which can sometimes happen; depending on a card company’s operating procedures.
If, however, transferring multiple credit card balances to one card will let you take advantage of good interest rates, or perhaps no balance transfer fees, or even both, and again it doesn’t exceed your credit limit, then by all means go ahead and do it. This way, you will only have one monthly payment, and with the “perks” (lower interest rate, no balance transfer fees) that payment may be lower, allowing you pay the balances off quicker.[include file=/wp-content/themes/customtheme/rec-balance-transfer.php]