3 Easy Steps to Transfer Credit Card Balance

Alana Grace

Close-up Photo of Credit Cards
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Transferring a credit card balance can be an effective strategy to manage and reduce your debt. This process involves moving your debt from a high-interest credit card to a card with a lower interest rate or a 0% introductory APR. While it might seem complex, it’s actually a straightforward process. Let’s break it down into simple steps.

Step 1: Request a Balance Transfer

The initial step in the balance transfer process is to reach out to the credit card issuer where you plan to move your debt. You’ll need to provide them with details about the balances you wish to transfer. It’s important to note that balance transfers usually can’t be done between cards from the same issuer.

There are two primary methods to initiate a balance transfer:

  • Online: Most credit card issuers allow you to log into your account and request a balance transfer directly from their online platform. You’ll need to have information about the debt you’re transferring at hand, including the issuer name, the amount of debt, and the account information. Some credit cards even allow you to request balance transfers during the application process before you’re approved.
  • By Phone: Alternatively, you can call your credit card issuer to request a balance transfer. Just like with online transfers, you’ll need to provide details about the debt you’re transferring.

In some cases, your issuer might provide convenience checks with special interest rate promotions that can be used to pay off credit card debt on another account.

Step 2: Wait for the Transfer to Go Through

After you’ve initiated the balance transfer, you’ll need to wait for the issuer to approve and complete the request. This can take two weeks or longer, so you may need to make another monthly payment on the debt you’re trying to move.

The issuer offering the balance transfer will post a payment directly to your old account for the approved amount. This payment amount, plus a balance transfer fee (usually 3% to 5% of the amount transferred), will then show up as an outstanding balance on your new account.

Step 3: Pay Off Your Balance

Person Holding Debit Card
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Once your balance has been transferred to the new credit card, you’ll start paying it down according to the terms on the new card. If the card offers an introductory 0% APR on balance transfers, you’ll be able to make interest-free payments during the promotional period.

After the promotional period ends, the regular interest rates will apply to the remaining balance. It’s important to aim to pay off the balance during the promotional period to maximize your savings.


Transferring a credit card balance is a practical and manageable way to reduce your debt. It’s a process that requires understanding the costs involved, checking your credit score, choosing the right balance transfer card, making the transfer, and focusing on paying off the balance. While it may take a few weeks to complete, the potential savings in interest charges can make it a worthwhile endeavor. Remember, the key to successful balance transfer is to make regular payments and aim to pay off the balance before the introductory APR period ends. Start your balance transfer process today and take a step forward in managing your financial health.

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