You can make a partial balance transfer if the transfer card’s credit limit is less than the amount you’re planning to transfer. When you transfer a balance, you usually do so to move high-interest debt from one creditor to another creditor with a lower interest rate, often 0% at the start. With a partial balance transfer, you’ll only be able to take advantage of lower rates on the amount you transfer. The remaining balance from the original creditor will still accumulate interest at the same high rate because it won’t have moved.
It’s best to try to find a card where you can transfer your entire balance. But that won’t always be possible. Credit cards often cap balance transfers at a percentage of your available credit. And most balance transfers include a transfer fee, usually 3% or 5% of each balance transferred.
There’s no real way to determine how much your limit will be or how much you can transfer until you apply for a card. You’ll get those amounts either online immediately after you’re approved or when your new card arrives, usually 7-10 business days from the approval date. So depending on your credit line and fees, you may not be able to transfer as much as you’d like. Still, it’s good to take advantage of a lower interest rate on as much of the balance as you can.
If you do a partial transfer, you should pay at least the minimum due on the transferred balance each month. At the same time, focus on paying off as much of the remaining high-interest debt as possible. Once that debt is paid off, you can increase the size of your payments toward the transferred balance.
If your card has an introductory APR on balance transfers, any balance remaining at the end of the introductory period will be charged interest at the card’s regular APR. Aim to pay the transferred balance in full before the end of the intro rate.
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
. 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.