Maria Adams, Credit Cards Moderator
@m_adams
Yes, both Chase Sapphire credit cards allow balance transfers, however, neither the Chase Sapphire Preferred card nor the Chase Sapphire Reserve® card offer an introductory APR for this type of transaction. This means that the cards’ regular APR will apply to a balance transfer, which is pretty high on both cards. Plus, there will also be a balance transfer fee.
Chase Sapphire Balance Transfers: Things to Know
- No Promotional APR: The Chase Sapphire cards do not offer promotional 0% APR periods specifically for balance transfers. The Chase Sapphire Preferred card charges an APR of 19.99% - 28.24% (V) on balance transfers. The Chase Sapphire Reserve card has a balance transfer APR of 20.24% - 28.74% (V).
- Balance Transfer Fee: Both Chase Sapphire credit cards charge a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.
- Limits: The amount you can transfer is generally limited to your available credit limit on a Chase Sapphire card.
While the Chase Sapphire cards do allow balance transfers, they may not offer the most competitive terms for such transfers compared to other cards that specialize in 0% APR balance transfer offers. If you're looking for a card specifically for transferring balances to pay down debt interest-free, you might want to consider other credit cards designed for that purpose.
Popular Credit Cards from Our Partners
People also ask
How can I do a balance transfer with the Chase Sapphire Reserve card?
You can do a balance transfer with the Chase Sapphire Reserve card through your online account. Generally, a balance transfer allows eligible customers to pay off some or all of an existing credit card or loan balance owed to another creditor.
The Chase Sapphire Reserve has a balance transfer fee and a relatively high APR. These aren’t particularly favorable terms, especially since many cards offer 0% intro rates and some offer no fees on balance transfers. But that's because Chase Sapphire Reserve was designed to earn travel...
read full answer by Bogdan Roberts, Credit Cards ModeratorHow can I do a balance transfer with the Chase Sapphire Preferred card?
You can do a balance transfer with the Chase Sapphire Preferred card either online or over the phone at (800) 945-2000. To transfer a balance online, you need to enter the amount you want to transfer, verify the information, and submit the request. Just keep in mind that balance transfers are expensive with this card as there are no intro balance transfer APRs available.
People who shift existing credit debt to Chase Sapphire Preferred will immediately start owing interest at...
read full answer by Maria Adams, Credit Cards ModeratorWhat 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 AnalystDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.