How much can I transfer? - Balance Transfer FAQ


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Credit Card Applications » Questions » FAQs » Balance Transfer » How much can I transfer?

How much can I transfer?

Answered on | Updated on February 18th, 2013
The content is accurate at the time of publication and is subject to change.

When you are carrying a big balance with a high APR, you want to transfer as much as you can to a lower rate card or a 0% APR balance transfer card. How much can transfer though will depend on your credit limit. You won’t be able to transfer more money than you have available on your new line of credit.

When you apply for the balance transfer card, you can list all the balances you would like to transfer. If you are given a card with a lower limit than the sum of your requested transfers, some of them may go through, or none of them might– it depends on the issuer. When you apply for the card be sure to ask what will happen if the credit limit you are granted is less than the amount you requested to transfer. Each issuer has a different policy about this.

Keep in mind that most credit cards charge a balance transfer fee, usually about 3% of the balance. Here is a table that show what that 3% would be for different transfer amounts:

  • $10,000 = $300 fee
  • $7,500 = $225 fee
  • $5,000 = $150 fee
  • $3,000 = $90 fee
  • $1,500 = $45 fee
  • $1,000 = $30 fee
  • $500 = $15 fee

It may be well worth the fee to transfer a balance to a 0% APR card, but make sure you take the fee into account before you make the transfer.

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% 12 months on Balance Transfers

Ongoing APR on Balance Transfer: 15.74% - 25.74% (Variable)

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

Excellent, Good Credit

Intro APR on Balance Transfer: 0% (first 12 billing cycles following each balance transfer that posts to your account within 45 days of account opening)

Ongoing APR on Balance Transfer: 18.24%, 22.24% or 25.24% variable based on your creditworthiness

Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater

Good/Excellent Credit
See Rates & Fees

Intro APR on Balance Transfer: 0% Intro APR for 12 months

Ongoing APR on Balance Transfer: Variable APR of 15.24%, 19.24% or 25.24%

Balance Transfer Fee: Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check

Good, Excellent Credit
See Rates & Fees

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