How long does a chase transfer take

This question is about Chase Credit Cards

People also ask

How long does a balance transfer take?

A balance transfer usually takes 14 to 21 days from when you submit a balance transfer credit card application. But depending on the issuer, it could take as few as 3 days or as many as 42. To make a balance transfer take as little time as possible, apply online so the issuer can review your application sooner.… read full answer

How Long a Balance Transfer Takes by Credit Card Company:

While you wait for your balance transfer approval, it is important to keep making payments toward the balance being transferred. You should send these to your original creditor. If you don’t, your balance could be reported as past-due. This might damage your credit standing and put the transfer at risk.

Once the credit card transfer is finalized, you will see a credit listed on your original account. It will look like a payment was made. And your old balance will be listed on your new balance transfer credit card account. Remember, unless you have a 0% transfer card, interest will start to accrue as soon as your balance gets transferred.

For more information, check out WalletHub’s guide on how balance transfers work.

show less

How do I do a balance transfer with Chase?

To do a balance transfer with Chase, new applicants can just complete the balance transfer portion of a Chase credit card application. Existing cardholders can request a balance transfer online or by calling customer service at (800) 432-3117.

Chase balance transfers usually take up to 21 days to process. In the meantime, continue to make payments on your original debt in order to avoid any late fees and possible damage to your credit score.… read full answer

How to Do a Balance Transfer with Chase (New Applicants)

1. Open the application for the Chase balance transfer card you want to apply for.
2. Enter the account number for your existing balance.
3. Enter the amount you want to transfer.
4. Include standard application info such as your name, Social Security number, and annual income.
5. Submit the application.

How to Do a Balance Transfer with Chase (Existing Cardholders)

1. Log in to your Chase
2. Select “Card balance transfers” from the “Pay & Transfer” menu.
3. Click on the balance transfer offer you'd like to redeem.
4. Enter the account number(s) and the amount(s) you’d like to transfer.
5. Verify your information is correct and submit the application.

Key Things to Know About Chase Balance Transfers

Chase only accepts balance transfers from other issuers’ credit cards. Chase does not allow balance transfers from other Chase credit accounts.

If you’re transferring a balance to a credit card with an introductory APR on balance transfers, try to pay off the balance before the introductory rate expires. Any balance remaining after that will accumulate interest daily at the card’s regular APR. Using a balance transfer calculator can be a big help.

Finally, the balance transfer fee for Chase credit cards is: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after).Make sure to take this into account, too.

show less

Does a balance transfer cancel a credit card?

No, a balance transfer does not cancel a credit card. You are not required to close the account once a balance transfer is complete, either. It may actually be a good idea to keep your old credit card account open, even if you don’t plan on using it. Closing a credit card account after a balance transfer could have a negative effect on your credit score.… read full answer

When you close a credit card, it reduces your total available credit and drives up your utilization ratio. It’s best to maintain a debt level of less than 30 percent of your total credit limit. Also, the average age of your accounts may decrease, particularly if you close a card that you’ve had for a long time. Potential lenders like to see a lengthy history of credit accounts when reviewing applications for additional credit. You can review some helpful tips on cancelling a credit card without hurting your score.

The exception to the rule, when it comes to cancelling a credit card after a balance transfer, is if the card has an annual fee. You could pay the fee once a year to keep the card active. Or, if you don’t plan on using the card anymore, you may consider closing the account to save money.

If you’re considering credit cards that cater well toward balance transfers, feel free to take a look at some of the best ones.

show less