Chip Lupo, Credit Card Writer
@CLoop
To do a balance transfer with the Best Buy® Credit Card, new applicants can just complete the balance transfer portion of the Best Buy® Credit Card application. Existing cardholders can request a balance transfer online or by calling customer service at (800) 950-5114.
Best Buy® Credit Card balance transfers usually take 14 days to process. In the meantime, continue to make payments on your original debt to avoid any late fees and possible damage to your credit score.
How to Do a Balance Transfer with the Best Buy® Credit Card (New Applicants)
- Open the Best Buy® Credit Card application.
- Enter the account number for your existing balance.
- Enter the amount you want to transfer.
- Include standard application info such as your name, Social Security number, and annual income.
- Submit the application.
How to Do a Balance Transfer with the Best Buy® Credit Card (Existing Cardholders)
- Log in to your Best Buy® Credit Card account.
- Select “View Offer” next to “You’re eligible for a balance transfer.”
- Click “I want this offer,” then “Start your transfer.”
- Enter the account number(s) and the amount(s) you’d like to transfer.
- Verify your information is correct and submit the application.
Key Things to Know About a Best Buy® Credit Card Balance Transfer
The Best Buy® Credit Card accepts balance transfers from other credit cards, along with auto loans and student loans. The Best Buy® Credit Card does not allow balance transfers from other Citibank credit accounts.
If you’re transferring a balance to a credit card with an introductory APR on balance transfers, try to pay off the balance before the introductory rate expires. Any balance remaining after that will accumulate interest daily at the card’s regular APR. Using a balance transfer calculator can be a big help.
Finally, there is a 5% (min $15) fee on Best Buy® Credit Card balance transfers. Make sure to take this into account, too.
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Gina Marena, Member
@ginamarena
You can transfer your Best Buy Credit Card balance to any credit card that allows balance transfers.
You'll only need to provide a few basic information like the amount and the account number of the card you want to transfer a balance from.
I'd suggest opting for a balance transfer credit card with a generous 0% transfer intro APR period for this purpose.
Keep in mind that whichever card you choose, your transferable amount probably cannot exceed your new card's credit limit.
People also ask
Is it a good idea to do a balance transfer?
Doing a balance transfer is a very good idea if you need multiple months to pay off high-interest debt and you are able to qualify for a 0% balance transfer credit card. Most balance transfer cards require a 700+ credit score (at least good credit) for approval.
What you should know before making a balance transfer:
- You generally need good credit or better to get a 0% balance transfer credit card.
- Most balance...
What is a balance transfer APR?
A balance transfer APR is the interest rate you get charged on a credit card for the amount of debt that you transferred from another card or loan. Many balance transfer offers include an introductory 0% APR that lasts for a specified number of months, usually 6 to 21 months.
Once an introductory balance transfer APR expires, any remaining balance accrues interest at the card’s regular balance transfer APR. This interest accrues daily, and it is calculated...
read full answer by Jane Parker, WalletHub Credit Card AnalystDoes a balance transfer count as a payment?
A balance transfer does count as a payment to the original creditor to which you owed the balance. The issuer of the balance transfer card will submit payment to the old creditor for the amount of the transfer. Once the first monthly statement comes for your balance transfer card, you will need to begin making payments to that card’s issuer.
Things to Know About Credit Card Balance Transfers
- Balance transfer timelines vary by issuer....
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