Why can’t I see any balance transfer offers? (2024)

FAQs

Why are there no more balance transfer offers? ›

You probably stopped getting balance transfer offers because your credit score decreased, you've opted out, or issuers have reduced the number of offers available. The best balance transfer credit cards usually require at least good credit, so if your score drops, you may no longer be eligible for offers.

If you try to transfer an amount that's greater than your credit limit, Chase will either decline the transfer request or approve a smaller amount for transfer. Provide Chase with any additional information they need.

Your request for a balance transfer might be declined if the transfer amount is above your credit limit, your account is in poor standing or you're trying to transfer a balance to a card from the same credit card issuer.

Card issuers can determine who is eligible for a balance transfer, based on things like income and credit scores. Generally, the higher your credit score the better your odds are for getting approved. While it's possible to get approved for a balance transfer offer with bad credit, you might pay a much higher APR.

In some cases, a balance transfer can positively impact your credit scores and help you pay less interest on your debts in the long run. However, repeatedly opening new credit cards and transferring balances to them can damage your credit scores in the long run.

As many as you want, as long as you stay below your credit limit. The best balance transfer credit cards give you between 60 and 120 days to transfer balances in order to qualify for the 0 percent intro APR offer, so try to transfer and pay down your balances as quickly as possible.

The catch with a balance transfer credit card is it may not save you money once the 0% introductory period ends because interest will start accumulating on any remaining balance.

If you can't repay your debt in the promotional period, are nearing the finish line on total debt repayment or are planning on applying for major financing soon, a balance transfer may not be a good move.

Cons of Balance Transfers

The balance transfer credit cards charge a fee typically between 3% to 5% of the transferred amount. This upfront cost can cancel out some of the savings from the lower interest rate.

A balance transfer can improve your credit over time as you work toward paying off your debt. But it can hurt your credit if you open several new cards, transfer your balance multiple times or add to your debt.

What is the best credit score for balance transfer? ›

Balance transfer credit cards typically require good credit or excellent credit (scores 670 and greater) in order to qualify.

You can transfer debt from multiple credit cards to a balance transfer card, as long as it fits within your credit limit. If you don't get the credit limit you need, you can ask your issuer for a higher limit after using your card responsibly for a while, or you can apply for a different card.

Does Discover allow balance transfers? Yes, potential new cardmembers can apply for a Discover it^® Cash Back Card and take advantage of a balance transfer offer.

No, American Express doesn't allow card members to transfer a balance from one Amex credit card account to another.

How a balance transfer could hurt your credit score. Applying for a new credit card to transfer your balance will result in a hard inquiry on your credit report. A hard inquiry will shave a few points off your score initially, and it will stay on your credit report for up to two years.

Many issuers are generous, giving cardholders the ability to transfer their full credit limit, but in some cases, your transfer limit may be capped at 75 percent of your overall credit limit. Some card issuers also have internal rules for balance transfers.