The content is accurate at the time of publication and is subject to change.

As a rule, you can transfer up to the full credit limit onto your new credit card. However, some issuers may set different limits for balance transfers. For example, the transfer limit may be capped at 75% of your overall credit limit. To find out how much you can transfer, you will need to contact the issuer directly.

You can generally transfer as many balances as you want to a single 0% into APR card. However, you should remember a couple of things: balance transfers between cards from the same issuer are not allowed, there can be a 3% - 5% balance transfer fee, and there may be an eligible time period within which you need to transfer balances to qualify for 0% intro APR.

As for the credit limit on your new credit card, you cannot know it in advance. The issuer will determine it based on your income, overall debt, credit history and credit score, and overall creditworthiness. If you are not happy with the initial credit limit, you can always call the issuer and speak with a representative directly. Explain your situation and ask if they can increase your credit limit.

As for the best credit card for you, again, it depends on who is the issuer of the card you want to transfer from. Remember, balance transfers can't be completed between cards from the same issuer.

A good option can be the Wells Fargo Reflect® Card, it has no annual fee, 21-month promotional period, and the balance transfer fee is 5% (for transfers made within 129 days of account opening). Thus, if you transfer a total balance of $4,000, you'll pay $200 in balance transfer fees. The ongoing interest for this card is 18.24%, 24.74%, or 29.99% Variable APR. Again, if you aren't happy with the approved credit limit, you can contact Wells Fargo and request a credit limit increase.

One more good option is the Discover it® Balance Transfer credit card. It is also a no annual fee credit card, but the promotional period for balance transfers is shorter - 18 months. However, the balance transfer fee is lower too: 3% intro balance transfer fee (up to 5% fee on future balance transfers). So, if you transfer balances totaling $4,000 to this card, you'll pay $120 in balance transfer fees. The ongoing interest rate for this card is 17.24% - 28.24% Variable APR. And of course, if you aren't happy with the approved credit limit, you can contact Discover and request a credit limit increase.

tags : Balance Transfers Credit Limit

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.