How to move a balance from one credit card to another

A balance transfer moves debt from one credit card to another, usually one with a lower interest rate. You contact the new card issuer, give them the account number and balance of your old card, and they pay off that debt on your behalf. The balance then appears on your new card at whatever rate and terms that card offers.

The process itself takes 5 to 14 business days from the moment you request it. During that time, you keep making payments on the old card to avoid late fees. Once the transfer posts, the old card shows a zero balance (or whatever amount didn't transfer), and you owe the new card issuer instead.

Key Takeaways

  • Contact your new card issuer directly by phone, online, or through their mobile app to request a balance transfer, and have your old card number ready.
  • The new card issuer will contact your old card issuer to pay off the balance, which typically takes 5 to 14 business days to complete.
  • Balance transfer fees usually range from 3% to 5% of the amount transferred and are added to your new card balance immediately.
  • You should continue paying your old card during the transfer period to avoid late fees, since the balance hasn't moved yet.
  • The interest rate on your new card may be a promotional 0% for a set period (often 6 to 21 months), after which a standard rate applies.

Gather your old card information before you call

Have your old credit card in front of you when you contact the new card issuer. You will need the account number, the current balance you want to transfer, and the card issuer's name. If you have a statement, that makes it easier to verify the exact balance.

Some card issuers also ask for the credit limit on your old card or the date you opened it, though this is less common. The new card issuer uses this information to locate your account in their system and confirm the transfer request with your old card's issuer.

Contact your new card issuer and request the transfer

Call the customer service number on the back of your new card, log into your online account, or use the card issuer's mobile app. Most major issuers—Chase, American Express, Discover, Capital One, Citi—offer balance transfer requests through all three channels. Phone is fastest if you have questions; online or the app works if you prefer to do it on your own schedule.

Tell the representative you want to transfer a balance from another card. They will ask for the old card's account number, the amount to transfer, and the old card issuer's name. Some issuers let you transfer the full balance; others cap transfers at a percentage of your new card's credit limit. Ask what the limit is before you request a specific amount.

Understand the fee and the promotional rate

Balance transfer fees are charged by the new card issuer and typically range from 3% to 5% of the amount transferred. A $5,000 transfer at 4% costs $200, which is added to your new card balance immediately. This fee is separate from any interest rate you will pay.

Most balance transfer cards offer a promotional period—often 0% interest for 6, 12, 18, or 21 months—during which you pay no interest on the transferred balance. After that period ends, the card's standard interest rate applies to any remaining balance. Read the card's terms to confirm the length of the promotional period and what the regular rate will be.

Wait for the transfer to complete and monitor both accounts

The new card issuer sends a request to your old card issuer, which typically takes 5 to 14 business days. During this time, the balance still sits on your old card. Keep making at least the minimum payment on the old card to avoid a late fee, even though you have requested a transfer.

Once the transfer posts, your old card will show a zero balance (or the amount that didn't transfer if you only moved part of it). Log into your new card account and confirm the transferred balance appears there. If the transfer does not show up after 14 business days, contact the new card issuer to ask for a status update.

Pay down the balance during the promotional period

The promotional 0% rate is temporary. If you still owe money when it expires, interest begins accruing at the card's regular rate, which can be 15% to 25% or higher depending on your creditworthiness and the card.

Create a payment plan to pay off as much as possible before the promotional period ends. Divide the transferred balance by the number of months in the promotional period to find your target monthly payment. For example, a $5,000 balance with a 12-month 0% offer requires $417 per month to pay it off in full before interest kicks in.

What happens to your old card after the transfer

Your old card account remains open with a zero balance unless you close it. Closing it can lower your credit score slightly because it reduces your total available credit and shortens your average account age. Most people leave the old card open and unused, which preserves the credit score benefit of having older accounts.

If your old card issuer charged an annual fee, you may want to call and ask them to waive it since the account now has no balance. Some issuers will remove the fee; others will not. If they refuse and the card has no rewards or benefits you use, closing it is a reasonable choice.

Frequently Asked Questions

Can I transfer a balance to a card I just opened?

Yes. Many issuers allow balance transfers immediately after you open the account, though some require you to wait a few days for the account to be fully activated. Check your card's terms or call customer service to confirm. The promotional 0% rate typically begins when the transfer posts, not when you open the card.

What if my new card's credit limit is lower than my old balance?

You can only transfer up to your new card's credit limit. If your old balance is $8,000 and your new card has a $5,000 limit, you can transfer $5,000 and leave $3,000 on the old card. You would then pay off the old card separately or request a second transfer later if your credit limit increases.

Does a balance transfer hurt my credit score?

A balance transfer causes a small, temporary dip because the new card issuer runs a hard inquiry on your credit report. Your score typically recovers within a few months. Transferring the balance also lowers your credit utilization ratio (the percentage of available credit you are using), which can improve your score over time.

Can I transfer a balance between cards from the same issuer?

Most issuers do not allow transfers between their own cards. Chase will not transfer a balance from one Chase card to another Chase card, for example. You would need to transfer to a card from a different issuer. Check your card's terms or call customer service to confirm the policy.

What if the transfer fails or gets denied?

Transfers are occasionally denied if the old card issuer suspects fraud, if your new card's credit limit is too low, or if there is a technical problem. If your transfer is denied, the new card issuer will tell you why. You can then address the issue (increase your credit limit, contact your old issuer to confirm the account is active) and request the transfer again.