How Long Does A Balance Transfer Take?

Balance transfer times vary greatly from as little as two or three days up to six weeks or more. The transfer time depends on the banks involved—each bank has its own estimates for how long it takes to make the exchange.

For reference, the chart below shows the ranges for transfer times provided by some of the most popular U.S. banks. Be sure to check the timing details with your specific bank before getting started.

On average, a balance transfer takes about five to seven days to move your specified balance to a different credit card.

Bank	Typical Transfer Time	Extended Transfer Time
Chase	Up to 7 days	Up to 21 days
Citibank	At least 14 days	Not provided
Bank of America	2 to 14 days	More than 2 weeks
Capital One	3 to 14 days	Not provided
Discover	4 to 14 days	More than 2 weeks
HSBC	7 to 10 business days	Not provided
Wells Fargo	Up to 14 days	Not provided

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As these figures make clear, the exact timing of balance transfers can be hard to estimate. In general, it will take longer if the credit card issuer getting paid off requires a paper check instead of an electronic transfer.

The best way to handle a balance transfer is to be patient and do what you can to keep track of progress. Continue to make the minimum payment due on any accounts affected by a balance transfer, in case the payoff doesn’t arrive by a credit card bill’s due date. Do not stop keeping up with your responsibilities on the account until you receive final notice the balance transfer is complete.

You can usually find the balance transfer terms in the same place you initiate your transfer if requesting through the bank’s website or app, or you can ask the representative if you’re on the phone or in person.

Either way, it’s a smart idea to take a screenshot, notes or a printout with the terms clearly listed. You’ll want to look for the APR, how long you’ll have the introductory or promotional APR and any balance transfer fees associated with the request.

If you signed up for a balance transfer offer but forgot the terms, check your account statement. Near the bottom, you’ll find the Interest Charge Calculation section.

There, you’ll find information about interest rates for purchases, balance transfers and any other item that could incur an interest charge. Banks are required by law to provide disclosures regarding any fees and charges, so this information should be easy to find on your account statement.

If there are other terms as part of your agreement, such as deadlines or late payments, be sure to consider those as well. Typically, you’ll need to agree to all the terms before initiating a balance transfer, so you’ll want to review them as part of the process.

Keep in mind, some 0% APR offers are only for purchases and not balance transfers, or vice versa. Other times, the introductory rate applies to both. That’s an important detail to look for if you specifically want to make a balance transfer.

Only two things are truly necessary to save money through a credit card balance transfer: a credit card account with a balance and another account with a lower interest rate. The best cards to transfer a balance to will offer a 0% introductory APR on balance transfers for a certain amount of time. Currently, credit cards have a timeframe for somewhere between six and 21 months.

Another important consideration when choosing a new card for a balance transfer is the balance transfer fee. Occasionally, you may find a card offering a low introductory interest rate along with a $0 balance transfer fee, but most often the two will not go together.

Balance transfer fees are usually listed as having a minimum dollar amount or a fixed percentage—such as $5 or 5%, whichever is higher. When transferring a large balance, the transfer fee will be well above the minimum and the percentage can make a big difference. For example, it would cost $250 to transfer a $5,000 balance with a 5% fee.

Sometimes the issuer will reduce the transfer fee for a new credit card account as part of a promotion. You can use a balance transfer calculator to determine how much you’ll save by transferring a balance while factoring in the balance transfer fee.

Not everyone is in a position to apply for and receive approval for a new credit card. Someone who has had a drop in their credit score, for example, may still take advantage of a balance transfer to an existing card so long as the numbers make sense. In this case, make sure the interest rate will be low enough on the card debt being moved to so the savings will make up for any balance transfer fee charged.

Because the time it takes to complete a balance transfer can’t be narrowed down to a set number of days, it’s often necessary to track the progress of the transfer yourself. This helps you know when to start making payments on the new card with the transferred balance and stop making payments on the old one, if you transferred your entire balance. This is especially important if you’re close to a payment due date on the original credit card.

Tracking the balance transfer is a fairly simple process and involves regularly logging in to your credit card accounts to check for updates. The original credit card account should show a payment or credit of the amount being transferred once everything is complete. For the new card the debt is transferred to, a charge or debit for the amount transferred should be visible.

It’s important to keep making at least the minimum payment on the original credit card until the balance transfer is confirmed as complete. The credit card issuer isn’t likely to forgive any late fees or interest charges because of a transfer.

Banks still send balance transfer offers by mail and if you respond by mail, your letter could get lost or delayed because of weather or other reasons. While it’s rare, it could happen. There’s also a margin of error when the person in the processing department transcribes your handwritten letters and numbers.

For this reason, it’s usually better to submit your balancer transfer online. By doing so, you’ll cut out the time it takes the bank to receive your letter which could speed up your balance transfer by a few days. You’ll still need to type your account numbers to start the transfer so you’ll want to double- and triple-check everything you enter before submitting your request.

Even if you do everything perfectly, delays could still occur for various reasons outside your control. If you get beyond a couple of weeks and still haven’t seen your transfer post, reach out to customer service to see if anything is missing or they’ve hit a snag. By being proactive, you can cut out the time it takes for the bank to reach out to you to clear the obstacle.

It’s important to keep making your regular payments on your other credit cards because your pending balance transfer does not absolve you of that responsibility. You don’t want to miss a payment as this could not only negatively affect your credit score but could also potentially cause you to be charged late fees.

If you’re nearing a deadline to take advantage of a balance transfer offer, contact your bank as soon as possible. They can likely apply the terms to the transfer if you explain there’s a setback, especially if it’s out of your control. In this situation, you’ll want to verify you received the agreed-upon terms and that it’s reflected accurately on your account statements.

Although every bank provides a different timeline for a balance transfer, all will almost always add it can take longer in certain circumstances. The estimates card issuers advise are useful for planning purposes, but the only way to really know how long a balance transfer will take is to initiate it and track its progress. Eventually, it should be clear when your balance has been assumed on a new credit card plan. For best results, initiate your transfers online and verify your information is correct to avoid delays. Take note of any terms or look for them on your accounts statements. Finally, be sure to keep making payments if required to preserve your on-time payment history.