How to do a balance transfer with Chase

Balance transfer credit cards can be a valuable tool if you’re stuck paying off credit card debt with a high APR. After all, the right balance transfer card can help you consolidate and pay down debt with zero interest for a limited time, which could help you pay off debt faster and potentially save hundreds of dollars per month.

If you’re hoping to ditch debt and start working toward a better financial future, a Chase balance transfer credit card with an intro APR offer could be exactly what you need.

How to do a balance transfer with Chase

Whether you decide to make your balance transfer online or over the phone, transferring a balance to a Chase card is fairly simple. However, it’s important to keep in mind that there’s no guarantee your balance transfer request will be approved, and if it is approved, you’ll need to factor in the cost of the balance transfer fee, as well. Bankrate’s balance transfer calculator can help you know what to expect.

How to transfer a balance to a new Chase card

You must be approved for the new Chase balance transfer credit card of your choice before you can fill out a balance transfer request. Once approved, you can transfer your balance to your new card by following these steps:

1. Request a balance transfer from your old card. You’ll need to know the amount you want to transfer and make sure it won’t exceed your new card’s credit limit. If you try to transfer an amount that’s greater than your credit limit, Chase will either decline the transfer request or approve a smaller amount for transfer.
2. Provide Chase with any additional information they need. You’ll need to give them your old credit card’s account number, as well as the name of the card issuer.
3. Submit your balance transfer request. You’ll likely have to wait at least one week for Chase to approve your balance transfer.

If your card offers an intro balance transfer fee, you must typically transfer your balance within 60 days of account opening to qualify for it. After that, you may be subject to a higher balance transfer fee.

How to transfer a balance to an existing Chase card

If you want to transfer a balance to an existing Chase card, follow these steps:

1. Log in to your Chase account. You can do this online or via the mobile app.
2. Select the credit card and account that you want to transfer the balance over to. This is also a good opportunity to check for any balance transfer offers you may be eligible for.
3. Enter the details of your transfer. These details include the account number of the credit card you want to move a balance from and the amount you want to transfer. Don’t forget to factor in the Chase balance transfer fee.
4. Submit your balance transfer request. You’ll have to confirm you have read the terms and conditions and follow the prompts to initiate the transfer to your Chase credit card.

If you prefer to transfer balances with help from a customer service representative, call the number on the back of your credit card instead to get started.

What to know after requesting a balance transfer with Chase

You can log in to your Chase account to see whether the balance transfer has taken place. Keep in mind it can take up to 21 days for Chase to process your balance transfer, so make sure to give it some time. While you wait, continue making on-time payments to all your credit card accounts to avoid late fees and penalties.

After the balance is transferred to your Chase card, make sure to check your old account to confirm that the full amount of the transfer has taken place. If your old account still has a small balance and you don’t pay your bill, you could face late fees and damage your credit score.

The bottom line

If you want to consolidate high-interest credit card debt, transferring a balance to a Chase credit card with an intro APR offer could help you save on interest for a limited time and pay down your debt faster.

However, before choosing a balance transfer card, be sure to compare all the best balance transfer offers on the market today. Some cards offer much longer intro APR periods than others, and you may be able to find an intro offer for purchases, among other benefits.

Frequently asked questions (FAQs) for Chase balance transfers

• How often can you transfer a balance with Chase?

  Chase lets customers transfer up to $15,000 within any 30-day period. If you need to transfer more than $15,000 in high-interest debt, consider using more than one balance transfer credit card with an intro APR offer. However, the amount you qualify for may be less than this amount.

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

  Like most issuers, Chase doesn’t allow cardmembers to transfer a balance from one Chase credit card account to another Chase credit card account. If you have debt on a Chase card that you want to transfer, you should choose a balance transfer card from another issuer.

• Do Chase balance transfers qualify for rewards?

  Balance transfers don’t earn rewards. You’ll only earn rewards for the purchases you make with your card.