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Step 1
Contact a major credit card company to apply for a new credit card or extended line of credit. Explain to the credit card representative that you currently have a line of credit you would like to transfer to a new credit card balance. Ask about balance transfer incentives that provide a 0% APY for a specified period of time.
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Step 2
Visit the official website for Visa Card Services, Discovery Card Services and Mastercard Card Services to compare balance transfer options for new card members. Credit companies like Capital One and Household Bank offer new and current card members various balance transfer options. Card holders with a 680+ credit score may be able to negotiate a 0% APY or 0% balance transfer fee.
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Step 3
Contact your bank. Ask your bank if you qualify for a credit card. If you receive the line of credit, ask what the balance transfer fee is and what restrictions apply.
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Step 4
Provide the account number of the credit card you wish to transfer funds from. Give this information to the credit card company that will receive the money and then apply it to your credit card account. You will also need to specify the amount you wish to transfer. Once this information is processed and authorization has been given, the money will be transferred from one account into the other.
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Step 5
Check your credit card statement. Review your credit card statements to make sure the appropriate amount was transferred. You will also need to verify that the appropriate fees have been applied to your account. If the balance transfer is not subject to fees, make sure that fees have not been applied.
