Chip Lupo, Credit Card Writer
@CLoop
To do a balance transfer with USAA, new applicants can just complete the balance transfer portion of a USAA credit card application. Existing cardholders can request a balance transfer online or by calling customer service at (800) 531-8722.
USAA balance transfers usually take up to 10 business days to process. In the meantime, continue to make payments on your original debt in order to avoid any late fees and possible damage to your credit score.
How to Do a Balance Transfer with USAA (New Applicants)
- Open the application for the USAA balance transfer card you want to apply for.
- Enter the account number for your existing balance.
- Enter the amount you want to transfer.
- Include standard application info such as your name, Social Security number, and annual income.
- Submit the application.
How to Do a Balance Transfer with USAA (Existing Cardholders)
- Log in to your USAA account.
- Select “Credit Cards” from the “My Tools” menu.
- Click “Credit Card Balance Transfers.”
- Enter the account number(s) and the amount(s) you’d like to transfer.
- Verify your information is correct and submit the application.
Key Things to Know About USAA Balance Transfers
USAA accepts balance transfers from other issuers’ credit cards. USAA does not allow balance transfers from other USAA credit accounts.
Using a balance transfer calculator can be a big help.
Finally, there is a balance transfer fee of 5% on USAA balance transfers. Make sure to take this into account, too.
People also ask
Is it a good idea to do a balance transfer?
Doing a balance transfer is a very good idea if you need multiple months to pay off high-interest debt and you are able to qualify for a 0% balance transfer credit card. Most balance transfer cards require a 700+ credit score (at least good credit) for approval.
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read full answer by Jane Parker, WalletHub Credit Card AnalystDoes a balance transfer count as a payment?
A balance transfer does count as a payment to the original creditor to which you owed the balance. The issuer of the balance transfer card will submit payment to the old creditor for the amount of the transfer. Once the first monthly statement comes for your balance transfer card, you will need to begin making payments to that card’s issuer.
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