What does "Request Held" mean on a balance transfer?

People conducting balance transfers are often uncertain about the process, even those with plenty of credit card experience. One thing that can cause confusion is a "Request Held" status or message placed on the transfer.

This message often comes up when you've just requested a fairly large balance transfer that hasn't been approved yet. But what does it mean when your request is put on hold, and how does it affect your balance transfer status and overall credit card strategy? Keep reading to find out.

What does "Request Held" mean on a balance transfer?

After you fill out a balance transfer request, the credit card company receiving the transfer might issue the following message: "Request Held." In short, this means that your request has been put on hold. But why?

"Request Held" messages are usually placed when the balance transfer amount exceeds the credit limit on the card the funds are being moved to. This may happen when you're attempting to transfer a large amount of debt. The receiving credit card company will flag the transfer and put your transfer request on hold while it reviews some key details, including how much money you're moving in relation to your card's credit limit.

What should I do if I get a "Request Held" message?

If a "Request Held" status results in your balance transfer being declined, you still have some options. A decline doesn't mean that you can't proceed, but you may need to initiate a new balance transfer request for a lower amount.

This may result in you still having a balance owing on the higher-rate credit card. If so, you may consider other avenues to pay off the amount if it cannot be included in the balance transfer. One option is to keep it where it is and continue making periodic payments. You could also look into a debt consolidation loan, if you can find one at a lower interest rate.

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Bottom line

The takeaway here is that a "Request Held" or even "Request Denied" message isn't the end of the world. Just be on the lookout for these messages when they pop up so you can take action. Also, never assume that your balance transfer request will be approved, especially for a large amount. Before you initiate a transfer, always check to make sure that your new credit limit is sufficient to accommodate the full transfer amount.

Related: Here are 3 reliable ways to pay off credit card debt