Why Does My Credit Card Not Allow Balance Transfers?

Balance transfers sometimes are disallowed by credit card companies. If your credit card does not allow a balance transfer, it probably is because your account does not meet the criteria for a transfer.

Available Credit

If the amount of the transfer exceeds the amount of available credit on your credit card, the transfer will not be allowed. Your available credit may have been reduced by recent transactions.

Credit Score

Credit card companies usually have a minimum credit score requirement to carry out a balance transfer. If your credit score is too low, you won't be allowed to make a balance transfer.

Behavior Score

In addition to credit scores, credit card companies often use behavior scores to set minimum criteria for balance transfers. Behavior scores track payment behavior with the credit card company.

Delinquent Accounts

Credit card companies usually will disallow a balance transfer if the you are currently delinquent in your payments to the company.

Closed Accounts

Balances cannot be transferred to an account that has been closed, whether the account has been closed by you or by the credit card company.

References

• www.myfico: Credit Q&A

Resources

• www.myfico.com:Credit Q&A