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August 26, 2017

Chase Balance Transfer Offers

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Check out the current Chase balance transfer offers and start saving. Whether you're transferring a balance to or from a Chase card, know these vital tips.

Chase Freedom Unlimited Deal: Chase Freedom Unlimited lets you earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases. There is also a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5. The cash back rewards will not expire as long as your card account remains open. There is no annual fee. See more benefits.

Click here to visit Chase's secure website for more information, including the online application.

So you have some credit card debt.

You want to transfer it to a new Chase card. Or maybe you have debt with Chase and you want to offload it to an entirely new bank.

Here is what you need to know about Chase balance transfers. Read on for current promotions, including offers with no transfer fee promotions and cash back rewards.

But watch out. There are a few quirks you need to know if you want to make a credit card balance transfer.

Read on before you apply for your next credit card.

Transfer a Balance to Chase

Do you have an existing balance from another bank?

If you're weighed down by credit card debt, a balance transfer is a smart way to get a break on interest rates. The trick is to move your debt to a card with a promotional 0% APR for balance transfers. This will give you a period of time to pay off that debt without accumulating more interest.

Chase has several credit cards that offer a promotional APR for balance transfers. They are:

  • Chase Slate offers a $0 intro balance transfer fee for the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5. This card has a 0% introductory APR for 15 months on purchases and balance transfers. After that, a variable APR, currently 16.49% to 25.24%. Plus, you can see your monthly FICO Score for free. There is a $0 annual fee.

    How to do a balance transfer with Chase:

    • Open a new Chase credit card, such as Chase Slate.
    • Transfer your balance within 60 days of account opening to take advantage of intro offers.
    • Maximum (including fees and interest charges) cannot exceed your credit limit or $15,000 (whichever is less).

    In our opinion, this is one of the best balance transfer cards on the market. Most cards charge a balance transfer fee of 3% - 5%. This means if you transfer a balance of $3,000, the transfer fee itself would be $90 - $150. You can save this with the Chase Slate, especially if you have a large balance to transfer.

    Note: Chase Slate has no rewards and no sign-up bonus.

  • Chase Freedom lets you earn a $150 bonus after spending $500 on purchases in your first 3 months from account opening. There is a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. There is a 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.

    This is the fun part: You can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Unlimited 1% cash back on all other purchases. The cash back rewards do not expire as long as your card account remains open. There is no annual fee.

    While this card has a balance transfer fee, it does offer rewards and a sign up bonus. Consider this card if you only have a small balance to transfer and plan to make purchases on your credit card.

  • Chase Freedom Unlimited
    Apply for Chase Freedom Unlimited
    Chase Freedom Unlimited: This card has the same balance transfer deal as the Freedom card (above). The difference is that instead of 5% cash back in rotating categories, you get a flat 1.5% cash back on all purchases. You may prefer this if your spending is more varied and you want something simpler to use.

Transfer a Balance from Chase

Do you have an existing balance on a Chase card?

If you own a Chase card and need to transfer some of that debt to another bank, here are some options:

  • BankAmericard offers a $0 introductory balance transfer fee for transfers made within the first 60 days of opening your account. After that, the balance transfer fee is 3% ($10 minimum). This card has a 0% intro APR for 15 months on purchases and balance transfers (made within 60 days of opening your account). After that, a variable APR of 14.49% - 24.49%. There is no annual fee.

    Related: See our list of low interest rate cards.

  • Citi Simplicity offers a 0% intro APR on balance transfers for 21 months and 0% intro APR on purchases for 12 months. After that, a variable APR, currently 16.24% to 26.24% depending on your creditworthiness. There is a 5% balance transfer fee ($5 minimum). There are no late fees, no penalty rates and no annual fees.

    This card has one of the longest promotional APR periods, but it does have a balance transfer fee.

    If you need some breathing room or a longer time to pay off your balance, this is a worthwhile card to consider.

Things to Watch Out for When Making a Balance Transfer

Are you considering opening a new card to transfer your existing balance? Here are some things to know before you apply.

  • You can only transfer to different banks. In other words, you can't have an existing balance on a Chase credit card, and open another Chase card to transfer the balance for the promotional APR. You can only transfer a balance between different banks.

  • 0% APR does not necessary mean free. Many cards have a balance transfer fee, either 3% or 5% (or $5 minimum). We've recommended a couple of cards without a transfer fee. But make sure you know what the fee is, so you're not shocked by a hefty charge.

  • The clock is ticking on transfers. Some 0% introductory APR offers have a certain time period you must complete the transfer by.

  • The promotional rate has an expiration date. Pay careful attention to how long you get the low rate. Make sure you have a plan to pay off the balance in full by the time it expires. It can be very tempting to make a balance transfer and then pay just a little every month - but you may regret doing that once the 0% APR goes up to the regular interest rate.

  • Time transfers carefully. Schedule the transfer well ahead of the due date on your current card. Check your balance transfer status. Make sure you continue making payments on your old card until you get confirmation that the balance has been completely transferred. If you don't, you could end up with a late fee and the late payment could show up on your credit. Stop making new purchases on the old card once the transfer's been initiated.

  • You'll need excellent credit to qualify. Generally speaking, Chase caters to customers with a higher credit score. If your score is less than stellar, you may not qualify for the card you want.

  • You could lose your introductory rate. If you transfer a balance, but miss a payment, you could lose the 0% APR intro rate and be subjected to the penalty rate. Always pay at least the minimum payment, preferably more.

  • If you plan to make new purchases, watch out. Sometimes, a card only has a promotional APR rate for balance transfers and NOT for new purchases. If this is the case, and you do tend to carry a balance, we advise that you avoid using that credit card for new purchases.

    Typically, you have a grace period on purchases where no interest accrues. But promotional interest rate offers may cause you to lose that grace period if you do not pay the entire statement balance (including the amount subject to the introductory APR) by the payment due date. If you plan to carry a balance, check the credit card issuer's terms to find out about the effects of the promotional APR offers on the grace period for new purchases.

Bottom Line

Transferring a balance to or from a Chase card can be a great move for your debt, but only if you're careful. Make sure you carefully read the fine print and are fully aware of any fees. Once you make the transfer, keep up with your payments and aim to pay it off in full before the intro APR period ends.

Terms and limitations apply.

Chase Freedom Unlimited
Apply for Chase Freedom Unlimited
At Chase's Secure Site
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% for 15 months
0% for 15 months
16.49% - 25.24% Variable
$0

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: This content is not provided by Bank of America. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Bank of America.

Editorial Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

Disclaimer: The information for the BankAmericard® credit card, Chase Freedom, Citi Simplicity® Card, and Chase Slate has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
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  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
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  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
  • Go to issuer's official application, terms, and details
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.49% - 24.49% Variable
$95

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About CreditDonkey®
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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