The amount that you can transfer to a credit card depends on the credit limit you’re approved for. A balance transfer entails using your new credit card to pay off a debt owed on another account, usually a credit card from a different issuer. So you can generally transfer as much as your available credit – your limit, minus amounts owed – will allow.… read full answer
It’s frustrating that you won’t know how much of your balance you’ll be able to transfer before applying for a balance transfer credit card. But a credit card company can’t tell how big of a credit line you’ll qualify for before thoroughly reviewing your credit history, income and debt obligations. Some credit cards may list the minimum credit limit you will get if approved in the terms and conditions, though.
One of the best high limit balance transfer credit cards is Chase Freedom Unlimited® because it can have a $5,000+ credit limit, and offers an intro APR of 0% for 15 months on balance transfers (19.24% - 27.99% (V) after that). The card also has a $0 annual fee. Chase Freedom Unlimited also offers 1.5 - 5% cash back on purchases. However, this card does charge a balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after).… read full answer
There are plenty of other cards with high credit limits in general, like Chase Sapphire Reserve® ($10,000 minimum). But you also have to consider their balance transfer terms. Cards with high limits tend to be travel rewards cards, with lots of miles but little financing appeal. They’re geared toward paying for airfare and hotels—things that can add up quickly. These high limit cards tend to not have any kind of 0% introductory APR on balance transfers.
So, you want to find a happy medium – a balance transfer credit card with a high limit, a low APR and low fees.
Here are some high limit balance transfer credit cards:
$500 minimum limit. The APR on balance transfers is 0% for 15 months. The balance transfer fee is: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after). After that, the APR is 19.24% - 27.99% (V). The transfer cannot exceed your credit limit or $15,000, whichever is lower. Good credit required. $0 annual fee.
$1,000 minimum limit. The APR on balance transfers is 0% for up to 21 months from account opening on qualifying balance transfers. The balance transfer is: 3% intro for 120 days, then up to 5% (min $5). After that, the APR is 17.24% - 29.24% Variable. Good credit required. $0 annual fee.
$500 minimum limit. The intro APR on balance transfers is 0% for 18 months. The balance transfer is: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer. After that, the APR is 18.24% - 28.24% (V). Good credit required. $0 annual fee.
$10,000 minimum limit. The balance transfer APR is 21.24% - 28.24% (V). The balance transfer fee is: Either $5 or 5% of the amount of each transfer, whichever is greater. Plus, you’ll have to pay a $550 annual fee. Excellent credit is required.
As you can see, high limit balance transfer credit cards don’t necessarily equal the best balance transfer offers. And saving on finance charges by switching to a card with a 0% introductory period is the whole point of a balance transfer. So if you’re having a hard time finding a good card that lets you transfer your balance in full, you might want to consider a partial balance transfer instead.
You should also note that not all credit cards allow your full credit limit to be used for a balance transfer. And if you do use your entire credit limit, you’ve maxed out your credit card. That’s not good for your credit score.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by a WalletHub user. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.