How to Do a Balance Transfer With Chase

When you have credit card debt, a balance transfer with Chase can help you pay it back more quickly and with less interest. Credit card interest rates are one of the biggest obstacles to paying off debt. A balance transfer lets you refinance your existing credit card debt at a 0% APR for an introductory period.

In this Chase balance transfer guide, we'll go over how to set up balance transfers with this card issuer, the rules, and everything else you need to know.

How to do a balance transfer with Chase

To do a balance transfer with Chase online, follow these steps:

1. Log in to your Chase account and go to the credit cards section.
2. Select your Chase balance transfer card.
3. Select "More," and on the dropdown menu that appears, choose "Account services" and then "Transfer a balance."
4. Select the balance transfer offer and click "Next."
5. Fill out the balance transfer form. You'll need the credit card number of the card with the balance you want to transfer and the transfer amount.

The balance transfer should process in a week to 21 days. Continue making any required payments on the original credit card account until the balance transfer is complete.

Another way to do a balance transfer with Chase is by calling the card issuer. The phone number is available on the back of your Chase credit card.

LEARN MORE: A Complete Guide to Balance Transfers

What to know before doing a balance transfer with Chase

There are a few things to keep in mind regarding Chase balance transfers.

• Like most credit card companies, Chase charges a balance transfer fee. The standard Chase balance transfer fee is 5% with a $5 minimum. Its best balance transfer cards also offer an intro balance transfer fee of 3% with a $5 minimum on transfers made within 60 days of account opening.
• The total amount you transfer, plus the transfer fee, can't exceed your available credit or $15,000, whichever is lower.
• You can't use a balance transfer with Chase to pay off any other Chase accounts. That includes balances from other Chase credit cards and loans.
• You must have a balance transfer offer on your Chase credit card. Chase doesn't let you transfer a balance without one.

Benefits of a balance transfer

The main reason for a balance transfer is to get a lower interest rate on your credit card debt. With the best balance transfer cards, you can get a 0% introductory APR on balances you transfer. The introductory period will give you time to pay down your debt without incurring more interest charges. When you're not paying interest, that also means you can pay off your debt more quickly.

Another perk of a balance transfer is that you can consolidate debt. If you have balances on multiple credit cards, you can transfer them all to one card. You'll then only have to make one monthly payment.

Making the most of a balance transfer with Chase

A balance transfer with Chase isn't a one-stop solution to credit card debt. You still need to be diligent in paying the balance down so you don't waste the opportunity. After the introductory APR ends on a balance transfer credit card, it reverts to the variable APR. That means you'll start paying more interest on any remaining credit card balance.

But a balance transfer can certainly make a big difference in how quickly you get out of debt and how much interest you pay on your credit cards. If you pay as much as you can toward your debt, a balance transfer offer gives you plenty of time to reduce or even erase what you owe.

Still have questions?

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