If you have a substantial amount of high-interest credit card debt, a balance transfer card can help you pay down your balance quickly and save on interest.
Chase Bank offers a few credit cards with introductory 0% APRs on balance transfers. A balance transfer with a 0% APR allows your entire payment to go toward the principal, and you don’t accrue additional interest.
To do a balance transfer to a Chase credit card, you can either open a new credit card with a balance transfer offer or transfer your debt to an existing Chase card that allows balance transfers. This guide walks you through how to do a Chase balance transfer no matter which option you choose.
To begin a balance transfer with Chase, you’ll need the following:
In order to qualify for a new Chase balance transfer card’s introductory APR offer, you may be required to make your balance transfer request within a certain number of days of opening your account.
In addition, we recommend creating a plan to pay off your transferred balance within the promotional period before initiating the balance transfer. This means calculating the amount you’ll need to pay each month to pay the balance in full before the interest-free period ends.
For example, if you are transferring $5,000 to a card offering a 20-month introductory interest-free period with a 3% balance transfer fee, you’ll need to pay around $258 a month to be debt free. If you don’t pay the entire balance off by the time the intro period ends, any balance remaining will be subject to the card’s ongoing APR.
After researching the balance transfer offers available from Chase, apply for the balance transfer card that best suits your needs.
When applying online, you’ll be asked to enter personal information including your:
When you see a question about requesting a balance transfer, follow the prompts to enter the account number and amount of the balance you want to transfer.
Note that if your request exceeds the amount you are approved to transfer, Chase will either decline the request or send less than the full amount requested to your designated payee.
Balance transfer offers are often available on existing accounts.
Note that when requesting a balance transfer offer from an existing card, you may not be eligible for a 0% intro APR promotion, but you may be eligible for a lower balance transfer APR.
With Chase, most balance transfers are processed within one week of requesting the transfer; however, it may take up to 21 days. This is dependent upon the length of time it takes the creditor to process the transferred amount from Chase.
To avoid accruing late fees and/or delinquencies on your existing accounts, continue making payments until the transferred amount has been posted and the balance has been paid in full.
If approved, you can use your Chase balance transfer card or balance transfer checks to pay off debt including:
However, you can’t transfer balances from one Chase credit card to another card issued by Chase (or any Chase affiliates).
Currently, Chase offers a few cards that come with balance transfers. See how they compare in the table below.
| Credit Cards | Our Ratings | Intro Balance Transfer APR | Regular Balance Transfer Rate | Balance Transfer Fee | |
|---|---|---|---|---|---|
Chase Freedom Unlimited®
 Apply Now
on Chase's secure site |
0% Intro APR on Balance Transfers for 15 months | 19.99% - 28.74% Variable | Either $5 or 5% of the amount of each transfer, whichever is greater. |
Apply Now
on Chase's secure site |
|
Chase Freedom Flex℠*
|
0% intro APR on balance transfers for 15 months | 19.74% - 28.49% variable | Intro fee: $5 or 3%. After 60 days: $5 or 5%. | ||
Chase Slate Edge℠*
|
0% Intro APR on Balance Transfers for 18 months. | 19.99% – 28.74% Variable | Either $5 or 5% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater. |
Like any balance transfer credit card, a Chase bank balance transfer credit card can help you save a significant amount of money on interest payments as you pay down your credit card debt.
A balance transfer card also allows you to streamline your payments by consolidating multiple bills into one. This makes it easier to stay organized and on top of your finances.
The major downside is that if you aren’t able to pay off the balance transfer to your Chase credit card by the end of the intro period, you will have to pay interest. The intro offers are usually a year or longer, so you have time to create a budget to pay off debt and avoid any surprises.
No, you cannot use your Chase balance transfer to pay other credit cards or loans issued by JPMorgan Chase Bank, N.A. or any Chase affiliates.
If you wish to cancel or modify your balance transfer, you should follow the bank’s instructions on cancellations. This generally must be done within a few days of initiating the transfer, and you should call the bank for details specific to your account and balance transfer.
No. Because Chase utilizes your credit card’s existing credit limit, there are no loan applications or credit bureau inquiries.
No, balance transfers do not qualify for cash back rewards.
The information related to the Chase Freedom Flex℠, Chase Slate Edge℠, Discover it® Cash Back and Wells Fargo Active Cash® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
