How to do a balance transfer with Citi

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Citi offers some of the longest introductory APRs for balance transfers on the market. With some Citi cards, you save money on interest for up to 21 months — which may be enough time to pay off all of your high-interest credit card debt. Some Citi cards also extend 0 percent intro APRs to purchases, while others offer cash back for each dollar you spend.

Finding the right balance transfer card can help you save money and get your finances on track. Here’s a breakdown of what you should know about Citi balance transfer cards and the steps you need to take to consolidate your credit card debt:

How to do a balance transfer with Citi

If you haven’t signed up for a balance transfer card from Citi yet, you can apply for a card and — if approved — set up your balance transfer at the same time. Upon approval of your new account, you’ll be given a chance to transfer a balance from an existing card during your application process. To initiate the transfer, you’ll simply need to provide the account number of your other account, the card issuer’s name and the amount of debt you want to transfer.

If you have a Citi credit card but did not initiate the balance transfer immediately, you’ll likely face a time limit on any introductory balance transfer offers. With the Citi Simplicity® Card, Citi® Diamond Preferred® Card, Citi Double Cash® Card and Citi Rewards+® Card, your balance transfer is only eligible for the introductory offer if you initiate the transfer within four months of account opening.

To initiate a transfer within that time frame, here are the steps you need to take:

1. Log in to your Citi account and click “Payments and Transfers” at the top of the page. This can be done via the mobile app or online.
2. Click on “Balance Transfers.”
3. Click “View Available Balance Transfer Offers.” This might also show up as “Start a Balance Transfer.”
4. Select the balance transfer offer you want to pursue and enter the required details. These include the account number for the credit card you want to transfer a balance from and the balance transfer amount.

It’s worth noting that, even if you are beyond that four-month timeframe or have had a Citi account for years, you may still receive balance transfer offers in your Citi account from time to time.

Additionally, you can also contact Citi customer service and initiate a balance transfer over the phone. All you have to do is call the number on the back of your card with your account information ready.

Get a lower rate on your debt

Explore Bankrate’s balance transfer credit card options View all balance transfer cards

How to check the status of your balance transfer

You can check the status of your Citi balance transfer through your account. Simply:

1. Log in to your Citi account.
2. Click “Payments and Transfers” at the top of the page.
3. Click “Balance Transfers.”
4. Click “View Balance Transfer Status.”

What to know after completing a balance transfer with Citi

Your Citi balance transfer may take anywhere from two to 21 days from start to finish, so you’ll want to keep an eye on your old account until it shows a $0 balance. You’ll also need to continue making payments on your old credit card account until the balance transfer is complete. If you still have a balance showing and you fail to make a payment on your old card before your due date, you could be stuck paying late fees and see a drop in your credit score.

Once your balance transfer has been fully processed and your old account shows a $0 balance, you can choose to keep that account open or call the card issuer and close it. Just remember that keeping old accounts open is typically positive for your credit score since old accounts can increase the average length of your credit history (even if you’re not using them).

Best Citi credit cards for balance transfers

Citi offers an array of competitive credit cards, including cards that provide a 0 percent introductory APR for a limited time. Make sure to compare Citi balance transfer cards in terms of their benefits, introductory balance transfer offers, rewards and fees before choosing a card.

The following Citi credit cards offer the best balance transfer terms:

The bottom line

Citi offers some of the best balance transfer cards available today. None of the Citi credit cards we’ve highlighted charge an annual fee, and they all extend their intro balance transfer APR offers for more than a year. With that much time to pay down debt interest-free, you could make a huge dent in your debt — or even pay it off for good.

Before choosing your balance transfer card, however, make sure to compare the offers, rates and fees of all of the top balance transfer cards on the market to find the right card for you.

If you’re not sure how to go about tackling your debt, consider reaching out to a certified credit counselor from a nonprofit agency. They can help you come up with a reasonable debt management plan to get you back on track.

Frequently asked questions (FAQs) for Citi balance transfers

• How can you transfer a balance with Citi?

  Citi doesn’t list any explicit limitations on how often you can transfer balances from other cards to a Citi credit card. However, the amount of debt you transfer (plus balance transfer fees) cannot exceed the available credit limit of your Citi credit card.

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

  You cannot transfer a balance from one Citi credit card to another Citi credit card. If you have debt on a Citi credit card that you want to consolidate, you should consider the top balance transfer credit cards from other issuers (like Wells Fargo, Discover and Bank of America).

• Do Citi balance transfers qualify for rewards?

  Citi balance transfers do not qualify for rewards. Only purchases made with your card qualify for cash back or rewards points.