How to Do a Balance Transfer on a Credit Card Immediately

When you first open a new credit card, you typically have a specific time period where there is no interest applied to the balance (usually around six months or so). If you have a different card that already has a balance with a higher interest rate it may be beneficial to you to transfer the balance of the older card onto the newer card. This can buy you some time to pay off the debt without a high interest rate.

Things You'll Need

• New credit card

Instructions

1. Wait for your new credit card in the mail after you have applied for the card. It is going to come in an unmarked envelope. Remove the card and there is a stick across the front with an activation number on it.

2. Call the activation number on the card and state the card number, CVC and expiration date. Wait on the line until after the activation has taken place. You are going to be asked if you want to transfer a balance from an existing card.

3. Tell the operator the card number of the credit card you want the balance transferred. You may also need the expiration date, name on the card and CVC number. The operator is going to state the balance has been transferred.

4. Wait a few days and check the balance of your old credit card. It is going to state there is a balance of zero.

References

• Bankrate.com: How to transfer a credit card balance