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 APR of 0% for 20 months with a 3% (min $5) balance transfer fee. After 20 months, the card’s regular APR of 14.49% - 24.49% (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.
You can request a U.S. Bank balance transfer online, by phone, or 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.
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 to 20 months to pay off existing debt at 0% interest.
Here is 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 “Take Action” menu. Put in the creditor’s name and address, your account number, and the amount you wish to transfer, then submit.
Phone: Call U.S. Bank customer service at 1 (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: U.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.
The U.S. Bank Visa® Platinum Card isn’t the only notable balance transfer credit card that U.S. Bank has to offer. For example, the U.S. Bank Cash+™ Visa Signature® Card and Harley-Davidson® Credit Card have 0% balance transfer APR for 12 months, with a 3% (min $5) transfer fee. The regular APR for the U.S. Bank Cash+™ Visa Signature® Card is 13.99% - 23.99% (V) and for the Harley-Davidson® Credit Card is 13.99% - 22.99% (V). 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.
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