Find out how to do a balance transfer in five easy steps and save money on high-interest credit card debt with a 0 percent introductory APR.
You can request a balance transfer online or over the phone. Once the balance transfer is complete, you’ll pay down the balance on the new card. Moving high-interest debt to a 0% APR credit card through a balance transfer can save you hundreds or even thousands of dollars in interest ...
A balance transfer credit card can help you get out of debt, but only if you follow these steps.
How many balance transfers can you make to one card? In theory, you can transfer almost all of your debt from multiple credit and store cards to a single balance transfer card. In practice, the credit limit on the new card might not allow you to transfer all your balances. In this case...
New card:If you’re taking advantage of abalance transfer offeron a new card, you’ll need toapply for the cardand complete the section on balance transfers during the application process, providing details about your current card and how much you’re moving over. Once approved, the transfer...
How do I transfer a balance from one card to another?Once you choose a new card that has a balance transfer offer with a lower interest rate, the next step is to apply with the credit card company to see if you get approved. You can request a balance transfer when your application is...
Transfer a balance What do I need before I make a balance transfer? Make sure you have the card details you want to transfer to hand, as you’ll need to tell us the long number from the front. Check the cards you want to transfer have the Mastercard®, American Express® or Visa...
How do balance transfers work? When you transfer a balance to a credit card, the issuer of the card pays off your debt on the card you transfer from. Your old card remains open, but the debt is on the new card and your payment obligation has shifted to a new card's issuer...
Balance transfer fee:You pay this upfront fee to transfer the debt to your new card. Most balance transfer cards charge around 3% (or $30 for every $1,000) transferred, but it can run as high as 5%. If you're not sure if transferring the debt will make financial sense once you've...
In a balance transfer, you open a new credit card account and transfer all or part of your existing credit card balances to it. Some credit cards are promoted for this purpose and may offer low or even 0% interest rates on balance transfers for a certain period, such as 12 or 18 month...