How To Do a Balance Transfer With Bank of America

The average credit card interest rate is 21.52%, according to Federal Reserve data from February 2026. That can make it hard to pay off credit card debt once you've started carrying a balance. If you're ready to take control of your finances, a Bank of America balance transfer can be a smart way to buy time to pay off your debt and reduce interest charges. 

This article walks through everything you need to know about Bank of America balance transfers so you don't lose the value of an introductory annual percentage rate (APR) before you even start. You'll learn how to prepare for the transfer, how to submit a request, the timing of the transfer and what to do after the transfer goes through.

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Key Takeaways

• A Bank of America balance transfer moves debt from another issuer to an eligible Bank of America card: You can't transfer between two Bank of America cards, so the debt must come from a different issuer like Chase, Citi or Wells Fargo.

• The average card APR is 21.52% as of February 2026, per Federal Reserve data, which is exactly what makes moving a balance to an intro APR worth considering.

• You can request it three ways: During a new card application, through your online account on an existing eligible card, or by phone at the number on the back of your card.

• Watch the fee structure and timing: Bank of America typically charges a 3% intro transfer fee during the promotional window and 5% after — and most offers require the transfer within the first 60 days of opening the account.

• Transfers take two to four business days — longer for new accounts: New accounts can take two weeks or more, so keep paying your old card until you confirm the balance posted and hit zero.

• Mind the fee-plus-limit math: On a $5,000 transfer, a 3% fee adds $150 for a $5,150 total — if your available credit is only $5,000, the transfer may be partially filled or denied.

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Can You Do a Balance Transfer With Bank of America?

Bank of America does allow balance transfers on eligible cards and offers. If you have qualifying debt with another issuer, you may be able to transfer that balance to a Bank of America card and take advantage of an introductory APR period to pay it down without accruing high interest charges.

Existing Bank of America cardholders may also be eligible for a balance transfer offer with a low interest rate for a limited time. While you'll pay interest on the balance transfer, you can save money compared to the rate you are paying on your existing debt.

While you can transfer debt from another bank, you can’t transfer a balance from one Bank of America credit card to another Bank of America credit card. The debt being transferred must come from a different issuer. If your existing debt is with Bank of America, you'll need to open a balance transfer credit card from another bank, such as a Chase balance transfer card or Wells Fargo balance transfer card. 

Or, you could consider applying for a debt consolidation loan. In debt consolidation, you can move multiple debts to a new loan to streamline payments and lower interest costs.

What To Know Before Starting a Bank of America Balance Transfer

Here's what you need to know before submitting a transfer request to pay off credit card debt.

• The balance must be with a different issuer. Bank of America doesn't allow balance transfers from its own cards.

• Timing matters. Typically, you must complete your balance transfer within the first 60 days after opening a new card. If you wait too long, your transfer won't qualify for the promotional rate.

• Factor in the transfer fee. Typical balance transfer fees range between 3% and 5% of the amount transferred. These fees are added to your new balance, increasing the amount you need to pay off.

• Have a payoff plan ready. Use the intro APR to reduce interest charges and have more of your payment go toward paying down your balance.

What Information You Need Before Starting a Balance Transfer

Gather the following information ahead of time to complete your Bank of America balance transfer:

• Existing credit card name and number

• Transfer amount

• Available credit on your Bank of America card

How To Do a Balance Transfer on a New Bank of America Card

You can request a balance transfer during the application process for a new Bank of America credit card. Here's how it works:

1. Start the online application for an eligible Bank of America card that features a balance transfer offer.

2. Select the balance transfer option during the application process. Enter the existing card name and number and the amount you want to transfer.

3. Submit your application. Bank of America will review your application and determine your credit limit.

4. Be prepared for a partial fulfillment. If the transfer amount you requested exceeds the credit limit on your new card, Bank of America may partially fulfill the request, prioritize the first transfer listed if you submitted multiple or deny it outright.

How To Do a Balance Transfer on an Existing Bank of America Card

It's quick and easy to take advantage of a balance transfer offer online if there's one available on your existing Bank of America credit card.

1. Log in to your Bank of America account and go to your card's account page.

2. Look for the balance transfer or promotional offer option. This is typically found in the account management or card services section.

3. Enter the required information, including the existing issuer's name, your account number and the transfer amount.

4. Submit the request. Bank of America can deny or only partially fulfill the balance transfer request if it exceeds your available credit limit.

If you don't see a balance transfer option in your online account, call the number on the back of your card to ask whether an offer is available.

How To Do a Balance Transfer by Phone

If you prefer to handle the transfer over the phone, or if you haven't yet received your new card and can't access your online account, you can call Bank of America customer service directly. Call the number on the back of your card or the general Bank of America customer service number at 800-732-9194. After submitting your request, ask for written confirmation of the balance transfer.

How Much Does a Bank of America Balance Transfer Cost?

Using an intro APR balance transfer offer doesn't mean there are no costs. In most cases, you'll pay a small fee that gets added to your new balance. Bank of America typically charges a 3% intro balance transfer fee during the promotional window and 5% after the initial promotional offer expires. Fees can vary by card and offer, so check the terms of your specific card before submitting a request.

Here's a quick example of how that math works:

If you want to transfer $5,000 and your card charges a 3% fee, the fee is $150. That brings your total transaction amount to $5,150. If your available credit is only $5,000, the transfer will either be partially fulfilled or denied altogether.

How Long Does a Bank of America Balance Transfer Take?

Most Bank of America balance transfers are completed within two to four business days, but new accounts can take two weeks or longer. The timing of the balance transfer depends on factors such as how quickly your new card is processed and how long the old issuer takes to receive and apply the payment.

What Happens After You Submit the Transfer Request?

Here's what to do to make sure everything went through correctly with your Bank of America balance transfer request.

• Confirm the transfer posted correctly. Log in to both accounts to verify that the transferred amount appears on your Bank of America card and that you've received credit for the balance transfer on your existing card account.

• Pay off any residual balance. Accrued interest may post to your existing credit card once the statement closes. Pay that amount quickly to zero out your old credit card account.

• Keep the old account open if it makes sense. Closing the old card immediately can hurt your credit score by reducing your available credit.

• Start executing your payoff plan. The intro APR window starts immediately upon opening your account. Set up a monthly payment schedule to bring the balance to zero before the promotional rate expires.

Common Bank of America Balance Transfer Mistakes To Avoid

A balance transfer can save hundreds or even thousands of dollars in interest. However, if you make mistakes in your balance transfer, you could wipe out the benefits you expected.

Waiting Too Long To Request the Transfer

Most intro APR offers require that the balance transfer be submitted within the first 60 days after account opening. If you miss that window, you'll lose access to the promotional rate and end up paying the standard APR and fees on the transferred balance.

Ignoring the Fee and Credit Limit Math

The transfer amount plus the fee must fit within your available credit limit. If you don't account for the fee upfront, you may only receive a fraction of the requested amount or your request could be denied completely.

Missing Payments While the Transfer Is Pending

The transfer can take up to two weeks or longer for new accounts to complete. If a payment due date hits on the old card while you're waiting, skipping it can trigger late fees and penalty APRs. The added fees and penalty interest can increase the debt you're trying to pay off.

Treating the Transfer As Permission To Keep Spending

Moving debt to a card with an intro APR only helps if you use the promotional period to pay it down. Adding new purchases to the card, especially if they accrue interest at the standard rate, makes it even harder to get out from under your debt.

How To Tell if a Bank of America Balance Transfer Is a Good Fit

A balance transfer isn't the right move for everyone. Here are a few signs it makes sense for your situation:

• You can realistically pay off the balance before the intro APR expires. If you can't clear the balance or make significant progress toward paying it off before the standard APR kicks in, the savings may be smaller than expected.

• The fee is justified by the savings in interest. If you're currently paying 20% or more in interest and you can pay off the balance within the intro period, the 3% to 5% transfer fee is likely worth it. If the intro period is short, the math may not work in your favor.

• You're committed to not adding new debt. A balance transfer works best as part of a focused payoff plan, not as a way to free up room on the old card to keep spending. To avoid the temptation to continue spending, consider closing your existing card and paying it off with a debt consolidation loan instead.

• You want either a longer intro period or ongoing rewards. Some Bank of America cards offer longer promotional windows with fewer perks, while others pair a shorter intro period with ongoing rewards. Knowing which matters more to you helps you choose the right card for the transfer.

Bottom Line

A Bank of America balance transfer can be an effective way to tackle high-interest debt. Balance transfer offers work best when you're committed to paying off your debt, rather than as a quick fix for your financial worries. Check your eligibility, gather the correct account information, submit the request and keep making payments on your old card until the transfer fully clears. From there, create a plan to pay off the entire balance during the intro APR period. By sticking to your payoff schedule and avoiding new charges, you'll be on your way to achieving your goal of becoming debt-free.

FAQs About Bank of America Balance Transfers

Can you transfer a balance from one Bank of America card to another?

No. Bank of America does not allow balance transfers between its own credit cards. The debt you want to transfer must be held with a different issuer. If your existing balance is with Bank of America, you'll need to explore other options, such as a balance transfer card from another issuer, a personal loan or a debt consolidation loan to move it.

How long does a Bank of America balance transfer take?

Most Bank of America balance transfers are completed within two to four business days. However, new accounts can take up to two weeks or longer to process balance transfers. Keep making payments on the old card until you've confirmed the transfer has posted and the old balance is at zero.

What do you need to start a Bank of America balance transfer?

To start a balance transfer, you'll need the name of the existing card's issuer, its account number and the amount you want to transfer. It is also important to understand your available credit limit on the Bank of America card to ensure your request isn't denied.

Key Terms

• Balance transfer: Moving debt from one credit card to another — usually to a lower or intro APR. The debt still exists; the goal is to pay it off before the promotional rate ends.

• Introductory (promotional) APR: The temporary low rate on a transferred balance. The window starts when your account opens, and any balance left at expiration reverts to the standard APR.

• Balance transfer fee: A charge added to your new balance — Bank of America typically charges 3% during the intro window and 5% after, though it varies by card and offer.

• Available credit limit: The maximum you can borrow on your card. Your transfer plus the fee must fit within it, or the request may be partially filled or denied.

• Same-issuer restriction: The rule that prevents transferring a balance between two Bank of America cards, so the debt must come from a different issuer.

• Residual interest: Accrued interest that can post to your old card after the transfer, which you'll need to clear to zero out that account.

• 60-day transfer window: The period after opening a new card in which you typically must complete the transfer to qualify for the promotional rate.

• Debt consolidation loan: A loan that combines multiple debts into one payment — an alternative if your existing balance is already with Bank of America.

Sources

• Federal Reserve: Consumer Credit (G.19) 

• CFPB:  What is a balance transfer fee? Can a balance transfer fee be charged on a zero percent interest rate offer? 

• CFPB: How long can I keep a low rate on a balance transfer or other introductory rate? 

• CFPB: Does it hurt my credit to close a credit card? 

Summary generated by AI, verified by MoneyLion editors

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