If the transfer is already in the works, there may not be anything you can do to speed up the process. But depending on which card issuer you transfer the balance to, it can take a while for the transaction to be processed. Be sure to stay on top of the situation until the transfer is completed.
As you do, you can help avoid other headaches, like late-payment fees, along the way. Image: A blond man holds a credit card and a tablet and smiles about knowing how long a balance transfer will take. Building Credit. Credit Cards. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads.
Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Your Money. Personal Finance. Your Practice. Popular Courses. Credit Cards Balance Transfer Cards. Part Of. Understanding How Credit Cards Work. Discover, for example, tells cardholders that balance transfers on a new credit account will usually take between seven and 10 days.
Chase and Citi both advise cardholders that balance transfers could take up to 21 days to complete, with Citi noting that the process might take even longer when transferring from some banks. It can take as little as a week for a balance to be transferred or upwards of three weeks. If you want to know whether your balance transfer is complete, check your credit card account. When your balance transfer has been authorized and processed, it will appear as a debit on the card to which you transferred the balance.
In that case, your balance transfer is in progress—but it is not yet finalized. You might also consider calling the customer service department of the credit card that you transferred the balance from.
You should also continue making payments on your original credit card until the balance transfer process is complete. Make sure you make at least the minimum payment on time every month to avoid late fees and protect your credit score.
If you want to pay off your credit card debt, a balance transfer can help you get the job done. Since balance transfers are not instantaneous, keep a close eye on your balance transfer credit card account to track the process. How We Make Money. Nicole Dieker.
Written by. Edited By Liliana Hall. Edited by. Liliana Hall. Liliana is an editor and journalist with a background in feature writing on the Bankrate Credit Cards team. Reviewed By Brady Porche.
Reviewed by. Nouri Zarrugh is a staff editor at CreditCards. Essential reads, delivered straight to your inbox. By providing my email address, I agree to CreditCards. Your credit cards journey is officially underway. The offers that appear on this site are from companies from which CreditCards. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories.
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