How To Do a Balance Transfer With Bank of America

A Bank of America balance transfer moves debt from another credit card onto a Bank of America credit card so you can pay it off at a lower introductory annual percentage rate (APR).

The average credit card interest rate is 22.15%, according to Federal Reserve data from May 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 save you money on interest, but it comes with a transfer fee and a limited intro APR window.

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Here’s 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

• How do you do a Bank of America balance transfer? Move debt from another issuer onto a BofA card: Start it in Online Banking, during a new-card application or by phone.

• You can't transfer between two BofA cards: The balance has to come from a different issuer, like Chase or Wells Fargo.

• Transfer within the first 60 days: You generally must complete the transfer within 60 days of opening a new card to lock in the intro APR.

• The fee is 3%, then 5%: BofA typically charges 3% for transfers made within 60 days of account opening, then 5% after.

• It takes two to 14 days: New accounts can take longer — up to about four weeks — so keep paying your old card until it clears.

• The fee counts against your limit: Your transfer plus the fee can't exceed your available credit, or it 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.

You can do a Bank of America balance transfer by signing in to Online Banking, choosing your Bank of America credit card, selecting the balance transfer option and entering the account number and amount from the card you want to pay off.

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

You can submit up to three balance transfer requests in a single online session. Each transfer counts against your available credit limit, so the total amount you move over — plus the transfer fee — cannot exceed your limit.

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 on transfers made within the first 60 days of opening your account, then 5% after that. This fee window is tied to when you open the account, not to the length of the 0% intro APR period. 

Fees also vary by card — some cards charge a flat 5% on every transfer — 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?

A Bank of America balance transfer usually takes two to 14 days to process once your request is approved.

Transfers to existing accounts tend to move on the faster end of that window. For new accounts, it can take longer because Bank of America may hold the transfer until your new card is activated, which can add up to four weeks. Keep making at least the minimum payment on your old card until you confirm the balance has been paid off.

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 receive only a fraction of the requested amount, or your request could be denied entirely.

Missing Payments While the Transfer Is Pending

The transfer can take up to two weeks or longer to complete for new accounts. 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 Bank of America balance transfer makes sense if you can pay off the transferred amount before the intro APR ends. But 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.

Bank of America Balance Transfer FAQs

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?

A Bank of America balance transfer usually takes about two to 14 days once your request is approved. Transfers on existing accounts tend to move faster, while new accounts can take longer — BofA says to allow at least two weeks from account opening for processing. Keep making at least the minimum payment on your 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.

How many balance transfers can you do at once with Bank of America? 

You can submit up to three balance transfer requests in a single online session, as long as the total stays within your credit limit.

Key Terms

• Balance transfer: Moving debt from one card to another, usually to pay it off at a lower intro rate.

• Introductory APR: A promotional rate, often 0%, that applies for a set number of billing cycles before the regular variable APR.

• Balance transfer fee: BofA's charge — 3% within 60 days of opening, then 5%.

• Same-issuer restriction: BofA's rule blocking transfers between two BofA-issued cards.

• Available credit: The unused portion of your limit; your transfer plus fee must fit within it.

• Partial fulfillment: When BofA approves less than you requested because it exceeds your limit.

• Residual interest: Trailing interest that can post to your old card after the transfer clears.

• Debt consolidation: Combining multiple debts into one payment, sometimes via a loan instead of a transfer.

Sources

• Bank of America: Rate, Fee and Other Cost Information (disclosure) 

• Federal Reserve: Consumer Credit (G.19) 

• CFPB: What is a balance transfer? 

Summary generated by AI, verified by MoneyLion editors

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