How to do a balance transfer with Chase
Balance transfers are a great financial tool for transferring debt from a high-interest credit card to one with no interest for a temporary period. Chase has many cards that work well for balance transfers, but there are some things you should know before you set one up.
Let’s explore how to make a balance transfer with Chase.
Related: Do balance transfers affect your credit score?
How to do a balance transfer with Chase
You can initiate a balance transfer to or from a Chase credit card. Chase will not allow you to transfer a balance from one Chase card to another Chase card.
Transferring a balance to a new Chase card
You can transfer a balance to Chase via the phone, app or internet. To qualify, you must be approved for a new Chase card that accepts balance transfers; however, you can request the balance transfer when you apply for the Chase card. You usually have 60 days to request a balance transfer on a new Chase card to qualify for a promotional introductory annual percentage rate period.
You must provide Chase with the account number, amount and name of the card issuer you are transferring from. Once you submit your request with the necessary information, it usually takes at least a week to hear back from Chase.
Transferring a balance to a current or existing Chase card
Transferring a balance to an existing Chase card is straightforward. You can do this via a phone call, online or the app, but it will be quicker through the app or online.
To start, choose the Chase card to which you want to transfer your balance and enter the necessary details. You will then be asked to acknowledge the terms and conditions and submit the request.
Related: How to do a balance transfer
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Things to know about Chase balance transfers
Here are the answers to some common questions about Chase balance transfers:
Can I do a balance transfer between Chase cards?
No. Chase does not allow you to transfer the balance from one Chase card or product to another.
How much can I balance transfer to Chase?
Balance transfers cannot exceed $15,000 within 30 days. Also, you can’t transfer more than the available credit limit of the Chase card you are transferring to.
How much does a balance transfer cost with Chase?
Chase charges $5 or 3% of the amount being transferred, whichever is greater, within the first 60 days of opening a new Chase card. After 60 days of account opening, the fee increases to $10 or 5%, whichever is greater.
How long do Chase balance transfers take?
Balance transfers with Chase can take a week to 21 days to post.
How to check the status of your Chase balance transfer
As mentioned, Chase states that balance transfers can take anywhere from a week to 21 days to be completed. Remember that the time frame depends on how quickly the other card issuer processes the transfer request.
With that in mind, there are ways to check on the status of your transfer request. You can log in to your Chase account and check if the transfer has been posted. If you don’t see the balance displayed on your credit card account, you can contact Chase Card Customer Service at 1-800-432-3117.
Lastly, you can always check with the card issuer sending the transfer to determine if your balance has been paid. Remember that you must continue to make payments on any cards with other issuers until the balance transfer has been processed.
Related: Simple rules to stay out of credit card debt
Best Chase balance transfer cards
Chase has three great balance transfer cards, all with no annual fee. These cards also offer a special promotional 0% APR on balance transfers. Here’s a closer look at each card.
Chase Freedom Flex
Annual fee: $0
Welcome offer: Earn a $200 bonus after you spend $500 on purchases in the first three months after opening an account.
Why we like it: The Chase Freedom Flex℠ has a generous 15-month promotional 0% APR introductory period on balance transfers and purchases. This card also earns 5% cash back on up to $1,500 in combined purchases in rotating bonus categories each quarter, 5% cash back on Chase Travel℠, 3% cash back on dining (including takeout and delivery) and drugstores and 1% cash back on all other purchases. Not to mention, when you pair this card with Chase Ultimate Rewards, you can convert your cash back to Ultimate Rewards.
For more information, read our full review of the Chase Freedom Flex.
Apply here: Chase Freedom Flex
Chase Freedom Unlimited
Annual fee: $0
Welcome offer: Earn an additional $1,500 cash back on all purchases (up to $20,000) in the first year for a potential value of $300.
Why we like it: The Chase Freedom Unlimited® has a generous 15-month promotional 0% APR introductory period on balance transfers and purchases. This card also earns unlimited 1.5% cash back on all purchases.
For more information, read our full review of the Chase Freedom Unlimited.
Apply here: Chase Freedom Unlimited
Chase Slate Edge
Annual fee: $0
Welcome offer: None.
Why we like it: New Chase Slate Edge℠ cardholders receive an extended 18-month promotional 0% APR offer for purchases and balance transfers. You can also lower your interest rate by 2%.
For more information, read our full review of the Chase Slate Edge.
The information for the Chase Slate Edge has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the issuer.
Bottom line
At TPG, we recommend paying your credit card balance in full every month. However, if you cannot, a balance transfer via issuers like Chase allows you to move high-interest credit card debt to a new card with a promotional 0% APR, saving you money in the process.
Related: Best balance transfer credit cards
