Marshall Jamieson, WalletHub Finance Consultant
The easiest way you can do a U.S. Bank balance transfer is either online, through the mobile app, or over the phone, by calling (800) 285-8585. Alternatively, you can do a balance transfer with a balance transfer check (which may be available by request). You just have to provide some basic information about the account you want to transfer a balance from and the amount you wish to transfer. U.S. Bank will determine how much to allow you to transfer by reviewing your credit history, income and existing debt.
The best way to do a U.S. Bank balance transfer is to apply for the U.S. Bank Visa® Platinum Card, which has a balance transfer intro APR of 0% for 18 billing cycles with a 3% (min $5) balance transfer fee. After the intro period expires, the card’s regular APR of 19.24% - 29.24% (V) kicks in, applying to any balance remaining at that time. U.S. Bank accepts balance transfers from auto loans, personal loans, student loans and credit cards from other issuers.
How to Do A U.S. Bank Balance Transfer
- Online: Log into your online account, select your credit card, and click the “Request a Balance Transfer” link from the “Payments and limit” menu. Put in the creditor’s name and address, your account number, and the amount you wish to transfer, then submit.
- Mobile app: Log in to the S. Bank mobile app, select your credit card, and click “Account options.” Then, choose “Transfer a balance” from the “Control” menu. Choose a payee or enter your own from the drop-down menu and enter the requested information. After viewing the terms and conditions, select Submit.
- Phone: Call U.S. Bank customer service at(800) 285-8585. When prompted, say “main menu,” then “representative.” State that you’re requesting a balance transfer, and provide the customer service rep with the necessary information.
- Balance transfer check: Using a balance transfer check is a bad idea because U.S. Bank will treat the transaction as a cash advance. That means fees and interest will be too expensive for this type of transfer to make sense.
- Eligible balances:S. Bank accepts balances owed on credit cards, personal loans, auto loans and more from other banks and credit unions. You cannot transfer balances from other U.S. Bank accounts.
- Processing Time: It may take up to two weeks for a balance transfer to post to your account. Make sure to continue paying your original creditor until the transfer goes through. You’ll ultimately get credit from U.S. Bank.
It’s best to request your transfer when opening an account, or soon after, so you can take advantage of the promotional financing. A U.S. Bank balance transfer provides 12 billing cycles to 18 billing cycles months to pay off existing debt at 0% interest.
Best U.S. Bank Balance Transfer Credit Cards
The U.S. Bank Platinum has an intro APR of 0% for 18 billing cycles on both balance transfers and purchases. There’s also a 3% (min $5) balance transfer fee. The card’s regular APR is 19.24% - 29.24% (V). The U.S. Bank Platinum has a $0 annual fee. This card requires at least good credit.
The U.S. Bank Cash+ has an intro APR of 0% for 15 billing cycles on both balance transfers and purchases. There’s also a 3% (min $5) balance transfer fee. The card’s regular APR is 19.24% - 29.24% (V). The U.S. Bank Cash+ has a $0 annual fee. This card requires at least good credit.
The U.S. Bank Altitude Go has an intro APR of 0% for 12 billing cycles on both balance transfers and purchases. There’s also a 3% (min $5) balance transfer fee. The card’s regular APR is 19.74% - 28.74% (V). The U.S. Bank Cash+ has a $0 annual fee. This card requires excellent credit.
You will need good or excellent credit to have a better chance of being approved for any of the 0% balance transfer U.S. Bank cards.
Ultimately, if you’re not loyal to U.S. Bank, you can also check out our editors’ latest picks for the best balance transfer credit cards on the market to weigh your options.
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