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Once you are approved for a balance transfer credit card, you will need to contact the new credit card company over the phone or online to request the balance transfer. They will ask you to provide your old cards account numbers and tell how much of your balance you want to transfer. After that, the balances from your old cards will be transferred to this new one. So, there will be no carrying debt on those cards anymore. The main thing is to find out what amount the new issuer allows you to transfer, as you can't transfer more debt than your new card has in available credit.

The transfer can take up to several weeks, so be sure to continue to make payments on your old cards until you get a confirmation the transfer is completed. That means your transferred balance is on the new card now. Therefore, there is no more debt on the old cards. However, remember that you will still need to make payments like annual fees on your remaining cards as they will still be active.

If you haven't chosen a balance transfer credit card yet, we can recommend you consider the Citi Rewards+® Card. When you transfer your balance to the card, you will have a 0% intro APR on purchases and balance transfers for 15 months.After that the go-to APR will be 18.74% - 28.74% (Variable), based on your creditworthiness. The balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).

The Citi Rewards+® Card is also a point rewards card that will allow you to earn 2X ThankYou® Points at supermarkets and gas stations for the first $6,000 per year and then 1X points thereafter. All other purchases will earn 1X ThankYou® Points.

tags : Balance Transfers Banks Online Application

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.