How to do a balance transfer

If you’re new to the world of credit cards, you might be wondering about balance transfers.

In short, it’s a type of transaction in which debt is moved from one credit card account to another. When utilized correctly, balance transfers can save you money on interest payments since you're transferring your balance from a high-interest card to a lower-interest card.

If you're curious about how to transfer a balance, here's a quick guide to get you started.

Find the balance transfer card for you

Only some credit cards are eligible to take on balance transfers, whether for personal use or business.

Many balance transfer credit cards offer perks like extended 0% annual percentage rate (APR) introductory periods, along with some cash-back rewards and welcome offers.

If you don’t already have one, you'll want to find and apply for a balance transfer card that works for you.

Here are some things you’ll want to consider:

• Duration of the introductory APR period: The card will switch to a higher variable APR after the introductory period if you haven’t paid off the transfer balance in full.
• Balance transfer fees: These are the costs of executing your transfer, usually 3%-5%.
• How long it takes to complete the transfer: Consider how quickly you need the transfer; most issuers take 5-7 days, while others can take up to 21 days. Additionally, make sure not to miss any payments while your transfer is being executed.

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The Citi Double Cash® Card (see rates and fees), for example, offers an 18-month introductory 0% APR period for balance transfers, plus a solid cash-back earning rate, meaning you don’t have to sacrifice rewards on future purchases just to consolidate your debt.

After the introductory balance fee offer ends, a variable APR of 17.49%-27.49% will apply, based on your creditworthiness. A 3% introductory balance transfer fee ($5 minimum) will apply within the first four months your account is open. After the introductory balance transfer fee offer ends, the fee for future balance transfers is 5% ($5 minimum).

There’s also the Bank of America® Customized Cash Rewards credit card, which offers 0% intro APR for 15 billing cycles and for any balance transfers made in the first 60 days of opening an account. After that, a variable APR of 17.74% to 27.74% will apply.

Our guide to the best balance transfer cards will give you a good idea of where to start.

Related: Citi Double Cash credit card review and Bank of America Customized Cash review

How to do a balance transfer

Once you have the right card, you’ll want to request the balance transfer. This is done by contacting the issuer of your balance transfer card — not the issuer of the card from whom you’re transferring the balance.

The process for requesting balance transfers varies by issuer, but they can generally be done online or by phone. Also, keep in mind that some cards have transfer balance limits, meaning you won’t always be able to transfer the entirety of a balance to your card.

Wait for the balance transfer to go through

Next, you wait until you receive confirmation that the transfer has been successful.

Again, the exact wait time varies by issuer, and it can take two weeks or longer for an issuer to approve and execute a balance transfer. This means you may have additional payments to make on the debt you’re trying to move while you wait for the transfer to be finalized.

With major issuers, balance transfers are generally done directly. This means the issuer will post a payment directly to your old account for the amount approved, and then that amount (plus any applicable transfer fee) will show up on your new account.

Pay off the balance on your balance transfer card

Finally, you’ll want to make timely payments to bring down the balance you've transferred before the introductory period ends so that you don't incur additional interest charges. Late payments can sometimes nullify introductory periods, putting you right back at square one.

To avoid racking up credit card interest, try to get in the habit of paying off all your cards in full and on time — one of our 10 commandments of credit card rewards.

Related: 6 simple rules to stay out of credit card debt

Bottom line

Starting the process to transfer a balance is pretty straightforward once you have an idea of what to expect.

Balance transfer credit cards are a great way to pay down debt without worrying about sky-high interest rates. Just make sure you pay the transferred balance off before the end of the introductory period.

Related: How to choose a credit card with 0% APR

Updated 11/3/2025