How To Do a Balance Transfer With Chase

A balance transfer can be a smart way to save money on interest, especially if you're carrying credit card debt with a high annual percentage rate (APR). If you have — or are planning to open — an eligible Chase credit card, you may be able to transfer debt from another issuer and take advantage of a lower introductory rate while paying down your balance.

The process is fairly straightforward, but a few details can make a big difference. You'll need to confirm your balance is eligible, understand the fees and transfer limits, and continue paying your original card until the transfer is complete. Here's how to do a Chase balance transfer from start to finish.

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Key Takeaways

• A Chase balance transfer moves debt from another issuer to an eligible Chase card: You generally can't transfer between two Chase cards, so it's used to move balances from cards like Capital One, Citi, Discover, Bank of America or American Express.

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

• Expect a transfer fee of 3% to 5%: Moving a $5,000 balance at a 3% fee adds $150 to your new balance, and that fee counts toward your available credit limit — so it affects how much you can move.

• Watch the transfer caps and timing: Chase says a transfer can take up to 21 days, and it generally won't permit more than $15,000 in transfers within a 30-day period.

• Keep paying your old card until it's done: A pending transfer doesn't pause your payment obligations, and missing a payment can mean late fees or credit damage.

• Have a payoff plan before the intro APR ends: The biggest savings come from clearing the balance during the promotional window, since any leftover reverts to the regular APR — and some offers require the transfer within the first 60 days.

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Can You Do a Balance Transfer With Chase?

Yes. Chase allows balance transfers to many of its credit cards, provided the card has an eligible balance transfer offer.

One important rule to remember is that you generally can't transfer debt from one Chase credit card to another. Instead, balance transfers are designed for moving debt from another issuer, such as Capital One, Citi, Discover, Bank of America or American Express.

Whether you're applying for a new Chase balance transfer credit card or using an existing one, review the terms of your offer before starting the transfer.

What To Know Before Starting

A little preparation can help your balance transfer go more smoothly.

First, verify that the balance you're transferring isn't already with Chase. Then, review your card's promotional offer, including the introductory APR, balance transfer fee and any deadlines for completing the transfer. Some promotional offers require transfers to be requested within the first 60 days after opening a new account or come with lower balance transfer fees if you make the transfer within the first 60 days of opening a new account.

You'll also want to think beyond the transfer itself. A balance transfer doesn't erase debt — it simply moves it. The biggest savings come from paying off the balance before the introductory APR expires.

What Information You'll Need

Before starting your request, gather:

• The account number for the credit card you're paying off

• The name of the card issuer

• The amount you'd like to transfer

• Your Chase card's available credit limit

Having this information ready can speed up the process and reduce the chance of delays. Keep in mind that your approved credit limit — including any balance transfer fee — determines how much debt you can move.

How To Do a Balance Transfer on a New Chase Card

If you're opening a new Chase credit card, you'll usually have the option to request a balance transfer during the application process.

Simply select the balance transfer option and enter the account information for the credit card you'd like to pay off, along with the amount you want to transfer.

If you're approved, Chase will determine how much of the requested balance can be transferred. If your approved credit limit isn't high enough — or the balance transfer fee pushes you over your available credit — you may receive a partial approval or have the request declined.

If you don't request the transfer during your application, you may still be able to do so after opening the account, provided your promotional offer is still available.

How To Do a Balance Transfer on an Existing Chase Card

Existing Chase cardholders may be able to request a balance transfer through their online account or the Chase mobile app.

After logging in, look for the balance transfer option under your credit card account or account services. Enter your existing account information, review the terms and submit your request.

Keep in mind that not every Chase credit card has an active balance transfer offer at all times. If you don't see the option, your account may not currently be eligible.

How To Request a Balance Transfer by Phone

If you'd rather speak with someone, call the customer service number on the back of your Chase credit card.

A representative can walk you through the process, answer questions about your promotional offer and submit the request for you. Before ending the call, confirm the transfer amount, balance transfer fee and introductory APR so there aren't any surprises later.

How Much Does a Chase Balance Transfer Cost?

Most Chase balance transfers include a fee, typically ranging from 3% to 5% of the amount transferred. 

Although paying a fee may seem counterintuitive, it can still be worthwhile if you're avoiding months of high-interest charges.

For example, transferring a $5,000 balance with a 3% fee adds $150 to your new balance. If the transfer allows you to avoid hundreds of dollars in interest during the promotional period, the fee may be well worth the cost.

Remember that the fee counts toward your available credit limit, so it can affect how much debt you can transfer.

How Long Does a Chase Balance Transfer Take?

Balance transfers aren't processed instantly. While some transfers are completed in about a week, Chase says the process can take up to 21 days.

Until the transfer is complete, continue making at least the minimum payment on your original credit card. A pending transfer doesn't pause your payment obligations, and missing a payment could result in late fees or damage to your credit score.

Once the transfer posts, review both accounts to confirm the balance has moved successfully and your old account has been paid off.

What Happens After You Submit Your Request?

After submitting your balance transfer request, keep an eye on both your Chase account and your original credit card account.

If a payment comes due before the transfer is complete, make it as scheduled. Once the transfer posts, verify that your old balance has been paid in full. In some cases, a small amount of residual interest may remain, so it's worth reviewing your final statement.

From there, focus on paying down your new balance before the introductory APR expires to maximize your savings on interest.

Common Chase Balance Transfer Mistakes To Avoid

A balance transfer can save money, but avoiding a few common mistakes can make the experience much smoother.

• Trying to transfer a Chase balance to another Chase card. Chase generally doesn't allow same-issuer balance transfers.

• Waiting too long to request the transfer. Some promotional offers require transfers within the first 60 days of opening your account.

• Ignoring the transfer fee. Remember that the fee counts toward your available credit limit.

• Stopping payments too soon. Continue paying your old card until the transfer has officially been posted.

• Adding new debt. The biggest benefit comes from using the promotional period to pay down existing debt — not accumulate more.

How To Tell if a Chase Balance Transfer Is Right for You

A Chase balance transfer may be a good option if you're paying a high interest rate on another credit card and can realistically pay off the balance before the promotional APR expires.

Before applying, compare the balance transfer fee with the interest you'll likely save. Even with a fee, many borrowers come out ahead if they pay off the balance during the introductory period.

A balance transfer works best as part of a larger debt payoff strategy — not as a long-term solution for carrying credit card debt.

Bottom Line

A Chase balance transfer can be an effective way to reduce interest charges and pay off credit card debt faster. Before getting started, confirm your balance is eligible, understand the fees and promotional terms, and gather the information you'll need to submit your request.

Once the transfer is complete, keep your momentum going by making consistent payments and paying off the balance before the introductory APR ends. Used strategically, a balance transfer can help you save money and simplify your path to becoming debt-free.

FAQs About Chase Balance Transfers

Can you transfer a balance from one Chase card to another?

No. In most cases, Chase doesn't allow balance transfers between Chase-issued credit cards. You'll generally need to transfer debt from a different card issuer.

How long does a Chase balance transfer take?

Most transfers are completed within one to three weeks, although Chase says the process can take up to 21 days. Continue making payments on your old card until the transfer is complete.

What do you need to start a Chase balance transfer?

You'll need the account number for the credit card you're paying off, the issuer's name, the amount you'd like to transfer, and enough available credit on your Chase card to accommodate the transfer and any applicable fee.

Is there a limit on how much you can transfer?

Yes. Your approved credit limit — and the balance transfer fee — determine how much you can transfer. If your request exceeds your available credit, Chase may approve a smaller amount or decline the transfer. In general, Chase won’t permit a balance transfer of more than $15,000 within a 30-day period.

Does a balance transfer hurt your credit?

A new credit card application may temporarily lower your credit score due to the hard inquiry. However, making on-time payments and reducing your credit utilization rate over time can positively affect your credit profile.

Key Terms

• Balance transfer: Moving debt from one credit card to another — usually to a lower or 0% introductory APR. It moves the debt rather than erasing it, so the goal is to pay it off before the promo ends.

• Introductory (promotional) APR: The temporary low or 0% rate on a transferred balance. Any balance remaining when it expires reverts to the card's regular APR.

• Balance transfer fee: A charge of 3% to 5% of the amount moved, added to your new balance and counted toward your available credit limit.

• Available credit limit: The maximum you can borrow on your Chase card. Your transfer plus the fee can't exceed it, which can lead to a partial approval or denial.

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

• 30-day transfer cap: Chase's limit of generally no more than $15,000 in balance transfers within a 30-day period.

• Residual interest: A small amount of interest that can accrue between your last statement and the date the transfer posts, sometimes leaving a balance on the old card.

• Hard inquiry: The credit check triggered by a new card application, which can temporarily dip your score before consistent payments help it recover.

Sources

• 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? 

• CFPB: What is the best way to pay off credit card debt? 

Summary generated by AI, verified by MoneyLion editors

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