Can a credit card issuer refuse to transfer my... - Balance Transfer FAQ

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Credit Card Applications » Questions » FAQs » Balance Transfer » Can a credit card issuer refuse to transfer my balance?

Can a credit card issuer refuse to transfer my balance?

Answered on | Updated on March 7th, 2013
The content is accurate at the time of publication and is subject to change.

A balance transfer is essentially asking one bank or issuer to pay off part or all of your debt to another. That’s why you cannot do a balance transfer from one card to another if the same financial institution issues both cards. If you request a balance transfer within the same bank, it will be denied.

Another reason that a balance transfer could be denied is if you do not have enough available credit to cover the amount you have requested to transfer. This could happen if you request a balance transfer at the same time you apply for a new card – something many cards allow you to do.

For example, you might apply for a card and put in a request for a balance transfer of $8,000, but only be approved for a new card with a credit limit of $5,000. In this case, the request will either be denied, or it will go through for the lesser amount of $5,000. Different issuers have different policies about this, so check the terms and conditions when you apply for a new card if you are planning to do this.

As long as you are requesting a transfer from one financial institution to another and you have enough available credit to make the transfer, there is no foreseeable reason that the balance transfer would be denied.

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.
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Intro APR on Balance Transfer: 0% (18 months)

Ongoing APR on Balance Transfer: See terms

Balance Transfer Fee: 3%

Excellent, Good Credit

Intro APR on Balance Transfer: 0%* 21 months on Balance Transfers*

Ongoing APR on Balance Transfer: 15.99% - 25.99%* (Variable)

Balance Transfer Fee: 5% of each balance transfer; $5 minimum.

Excellent, Good Credit

Intro APR on Balance Transfer: 0% 18 months on Balance Transfers*

Ongoing APR on Balance Transfer: 15.49% - 25.49%* (Variable)

Balance Transfer Fee: 3% of each balance transfer; $5 minimum.

Excellent, Good Credit

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