How to Do a Balance Transfer Step by Step, Plus Cards to Consider

To do a balance transfer, open a card with a 0% intro APR on transfers, give the new issuer your old card's account number and the amount, and keep paying the old card until the transfer posts. Expect a fee of 3% to 5%, and pay the balance off before the intro period ends. The steps below cover each stage, followed by the cards worth considering and the math for choosing between them.

How do you do a balance transfer?

A balance transfer moves what you owe on one credit card to another card, usually one with a low or 0% introductory rate. The CFPB notes that an issuer is allowed to charge a balance transfer fee even on a 0% offer. The whole process looks like this:

1. List your balances. Write down each balance you want to move, its APR and its issuer.
2. Choose a card from a different bank. Issuers do not accept transfers from their own cards.
3. Request the transfer when you apply, or soon after. Each card has a deadline for transfers to get the intro rate.
4. Keep paying the old card until the transfer posts and the old balance reads zero.
5. Set up a fixed autopay that clears the balance before the intro period ends.
6. Keep new purchases off the card unless you pay the full balance each month.
7. Review the plan three months before the intro rate ends.

Which balance transfer cards should you consider?

The best balance transfer card is the one with a long enough intro period at the lowest fee. These terms were checked on each issuer's website in September 2026; APRs after the intro period are variable and set by your application.

None of these cards has an annual fee. In short, the cards to look at first are:

• Wells Fargo Reflect for the longest intro period and the longest window to make the transfer.
• U.S. Bank Shield Visa, which matches that length and has no penalty APR.
• Citi Double Cash for a lower 3% fee and cash back once the debt is gone.
• PNC Spend Wise Visa for 18 months at a 4% intro fee.

If you also want 0% on new purchases, compare our list of the best 0% APR credit cards.

Is the longest 0% intro period always the best choice?

No. A longer period often comes with a higher fee, so choose the shortest period you can realistically repay within. Here is a worked example, assuming a $5,000 balance on a card charging 24% APR and no new spending:

• Wells Fargo Reflect: the 5% fee is $250. Spreading $5,250 over 20 months, one month short of the intro period for safety, means $262.50 a month.
• Citi Double Cash: the 3% fee is $150. Spreading $5,150 over 17 months means about $303 a month.

If you can afford about $303 a month, the Citi card saves you $100 in fees. If you can only manage about $263, the extra three months on the Reflect card are worth the higher fee. Either way, compare that fee with staying put: paying $262.50 a month on the old card at 24% would cost about $1,302 in interest over 20 months and still leave about $1,052 to pay.

How do you request a balance transfer, and how long does it take?

You request it in the application or through the new card's online account by entering the old card's account number and the amount. Do it early, because each card sets a deadline for the intro rate: 120 days on Reflect, 90 days on PNC Spend Wise, four months on Citi Double Cash and 60 days on the U.S. Bank Shield card.

You cannot pay off a card from the same bank. Wells Fargo, Citi, Chase, U.S. Bank, PNC and Bank of America all state this in their terms, and Capital One says transfers between Discover and Capital One accounts are no longer possible. Chase also caps online and phone transfer requests at $15,000 within any 30-day period.

Processing times vary. Chase says most transfers are processed within a week but some take up to 21 days. Wells Fargo says a transfer can take up to 14 days after approval, and Bank of America says most complete within 2 to 4 business days, though for new accounts processing begins at least 14 days after approval. Keep making at least the minimum payment on the old card until its balance shows $0; a missed payment there still counts against you.

How much should you pay each month?

Divide the transferred balance plus the fee by the number of intro months minus one, and set that as a fixed automatic payment. The minimum payment alone will leave most of the balance in place when the intro rate ends.

If you do carry other balances on the card, federal rules help: Regulation Z requires issuers to apply any amount you pay above the minimum to the balance with the highest APR first. The minimum itself can still go to the 0% balance.

Should you use a balance transfer card for new purchases?

It is usually better not to. The CFPB explains that while you carry a balance, including a 0% transferred balance, purchases can accrue interest from the day you make them unless you pay the entire balance, including the transfer, by the due date. Wells Fargo and Chase both say you lose the interest-free period on new purchases while a balance remains. Some cards above, including Reflect, Shield and Chase Freedom Unlimited, also give 0% on purchases during the intro period, but keeping your spending on another card still makes the payoff simpler to track.

What happens if you pay late or the intro period ends?

When the intro period ends, any remaining balance is charged at the card's regular variable APR. Federal rules say an introductory rate must last at least six months unless you are more than 60 days late on a payment. A late payment can still cost you: PNC's terms, for example, say it may end intro APRs and apply its penalty APR after a late payment. Under Regulation Z, an issuer can raise the rate on your existing balance only once you are more than 60 days late, and must restore the lower rate after six consecutive on-time minimum payments.

Three months before the end, check what is left. If you will not clear it, your options are a second transfer to another bank's card, which means another fee and a hard inquiry; a fixed-rate personal loan; or putting every spare dollar toward the balance. Our guide to 0% purchase versus balance transfer cards compares the approaches.

Does a balance transfer hurt your credit score?

Briefly, and usually a little. The application adds a hard inquiry and a new account, which can lower your score for a short time. As you pay the balance down, the share of your available credit that you use falls, and that usually helps. Keeping the old card open with a $0 balance adds to your available credit. Our guide to understanding your credit score explains why. Readers in the UK should see our guide to UK 0% balance transfer cards, where the rules and deals differ.