How Do I Transfer My Credit Card Balance?

To transfer the balance of one credit card to another card, either use a convenience check provided by the new credit card issuer to make the transfer, call the new issuer to arrange a transfer, or follow the prompts on the new issuer’s website to make the transfer online, advises Bankrate. Transfer the whole balance or a portion of the balance. Continue making the minimum payment on the old card until you confirm the successful transfer of the balance.

When searching for a balance transfer offer, check all the terms and conditions, including the interest rate charged and any balance transfer fees that come with the offer, advises ABC News. Many cards charge 3 percent of the balance transferred in fees, as of 2015. Finding a 0-percent promotional APR transfer balance without fees can save money on the transfer without increasing your balance. Be sure to note how long the promotional APR lasts; many last between six and 18 months.

After transferring the balance and ensuring that the balance transfer was successful, obtain the final statement copy of the card, and keep the account open, suggests ABC News. Doing so helps to build a low credit utilization ratio to improve your credit score.