How long does a credit card balance transfer take? Although it’s impossible to predict exactly how long a balance transfer will take in advance, your issuer can offer you a general idea. Make careful to keep paying off your current accounts while you wait.
Transferring a credit card balance might take as little as three days or as much as six weeks. Yours will take longer or shorter depending on your credit card company, other variables, how you apply for the transfer, and how your current creditors are paid. Other variables include whether you’re starting a new account with the credit card company. How long does a credit card balance transfer take?
How long does a balance transfer usually take?
Before you apply, the majority of credit card providers will offer you a general idea of what to anticipate, but there is no way to predict in advance how long a balance transfer would take. For the transfer to be authorized and finished, you need be ready to wait at least a few weeks.
You may get a basic idea of how long it will take to conduct a balance transfer with each issuer from the graph below:
Issuer of credit | Cardslength of a balance transfer |
| American Express | 5 to 7 days on average, but can take up to 6 weeks |
| Bank of America | Up to 14 days |
| Capital One | 3 to 14 days |
| Chase | 7 to 21 days |
| Citi | 2 to 21 days |
| Discover | Up to 14 days |
| HSBC | 7 to 10 business days |
| Wells Fargo | Up to 14 days |
| U.S. Bank | Up to 14 days |
What if my balance transfer takes longer than anticipated to arrive?
Call your issuer to check on the status of your transfer if it has been more than a few weeks since you submitted your balance transfer application and you haven’t received any updates or seen any money posted to your account. A representative might be able to explain what’s taking so long and provide you with an estimate of how long the transfer will take.
It’s imperative that you keep making minimal payments on your current credit cards during this time and send all other payments to your initial creditor. When your original account shows a balance of $0, you can suspend payments with confidence. While you wait for a balance transfer to occur, missing payments could result in late fees and ruined credit. The transfer can even be interrupted if your credit suffers an excessive hit.
Can you cancel a balance transfer once it has been sent?
Generally, you have 10 days to cancel any balance transfer requests after opening your new credit card account. Simply call your issuer and request to cancel the transfer if you change your mind for any reason. You probably won’t be able to cancel a balance transfer if it has been more than 10 days since it was initiated and it has already been completed. In such situation, you’ll have to start using your new card to make monthly payments on schedule.
Transferring your balance to a new card is certainly a good choice if you have credit card debt and want to reduce interest.
With a balance transfer card, you’ll be able to “stop the bleeding” brought on by escalating interest rates while also having the opportunity to reduce your balance and improve your credit, even if you’ll suffer a minor credit hit.
But it’s impossible to predict exactly how long a balance transfer will take because there are so many differences across issuers and transfer strategies.
The provider of your credit card can give you an idea of how long you’ll have to wait, but instead of stressing about that timetable, concentrate on what you can control: Apply as quickly as you can, monitor your transfer carefully, and keep paying off your current cards. In this manner, you may at least be certain that you are conserving money while simultaneously defending your credit.
How long does a credit card balance transfer take?
