How to Transfer a Balance to Visa

Many banks, airlines, car dealers, department stores and even universities offer a version of the Visa credit card. If you want to simplify your credit card debt by transferring or consolidating your balances to one card, Visa makes it easy.

Instructions

Difficulty: Moderately Easy

1. Compile a list of your current credit cards, the balance owed on each and the interest rate that you are paying on each of those.
2. Make a decision as to which account balance you want to transfer to your Visa account. Transferring the balance owed on several accounts to your Visa account just might make more sense in your credit situation.
3. Check on the interest rate of your particular Visa account regarding transfer balances. Make sure that you have enough credit line available to cover the amount or amounts that you are planning to transfer to your Visa card.
4. Transfer the balances to your Visa card account. Call your customer service representative or the toll-free number on your account for help. If your Visa card has checks, you may use those to write a check to each account that you are paying off by transfer.
5. Review your credit card statements of the accounts you transferred from, to make sure that the transfer was notated on the statement.
6. Read your Visa credit card account statement to see your balance transfers listed separately from your charge purchases.

Tips & Warnings

• Time your balance transfer to your Visa account so that you do not end up having to pay a late fee on any of the cards.