How long should I wait to do another balance transfer after I just did one?

Question

I had a 0.0% introductory rate eliminated due to a late payment so I want to do another transfer. But someone told me I should wait a couple of months because you can't do that soon after doing a previous balance transfer.

Answer 1

Ive been playing the balance transfer game myself for the past couple years.  It doesn't matter how soon after you do one but if you do them quite often, then your gonna run your credit down instead of building it.  If the default apr is high or you have a large balance, then I'd suggest to get a new one right away.  If it's somewhat low then you would probably be better off waiting a couple months.

But whatever you do, make sure you pay before its late or your gonna get yourself in a hole thats gonna be hard to dig out of and you will have a harder time finding places that will pick up your balance transfers.