How a Balance Transfer Works

Step 1: Pick a card from a different issuer

In most cases you can't transfer a balance between two cards from the same bank. Capital One goes further and also blocks transfers between Capital One and Discover accounts since the two merged in May 2025. Compare intro length, fee and deadline on our best balance transfer cards page, or use the how to choose guide.

Step 2: Request the transfer before the deadline

You'll need the old account's number and the amount to move. Intro terms generally require the transfer within a set window:

• 60 days: U.S. Bank Shield, BankAmericard
• 120 days: Wells Fargo Reflect and Active Cash
• 4 months: Citi Diamond Preferred, Simplicity and Double Cash (for the 3% fee)

Step 3: Make sure it fits your limit

The transfer plus the fee has to fit within your available credit or your balance transfer limit, which can be lower than your overall credit limit. If you ask for more than fits, the issuer may approve only part of it. See why transfers get denied.

Step 4: Wait for it to process

Bankrate says most transfers take 5–7 business days, but some take 14 or even 21 days. Typical issuer timelines:

Step 5: Keep paying the old card

A transfer "does not count as a payment until the transfer has been fully processed." If a due date on the old card falls during processing, make at least the minimum payment. Once the old balance shows zero, you can stop. Keep the old account open if it has no annual fee; closing it can raise utilization. More in balance transfers and your credit score.

Step 6: Repay before the promo ends

Divide the new balance (including the fee) by the number of promo months to get your target payment. A $5,250 balance over 21 months is $250 a month. Our payoff plan has a table for different amounts.

A quick example

You owe $5,000 on Card A at a high rate. You're approved for Card B from a different bank with 0% for 21 months and a 5% fee, and you request the transfer within the deadline. Card B pays Card A $5,000 and adds a $250 fee, so you now owe $5,250 on Card B. While it processes, you make Card A's minimum payment. After about a week or two, Card A shows $0. You then pay $250 a month on Card B and finish just as the promo ends.

How the CARD Act handles your payments

Under Regulation Z, any amount you pay above the minimum must go first to the balance with the highest APR, then to lower-rate balances in descending order. If you have a 0% transferred balance and new purchases at the full rate on the same card, your extra payments hit the purchases first, which works in your favor.

But if the card has no 0% rate on purchases (Citi Double Cash, for example), new purchases accrue interest right away. The simplest rule: don't use the transfer card for spending.

Federal rules also require intro rates to last at least six months, and an issuer may end the promo rate if your minimum payment is more than 60 days late. Card agreements can be stricter, so set up autopay. Terms vary by card; check the issuer's site for current details.

Frequently Asked Questions