How to do a balance transfer with Bank of America

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Paying off credit card debt can seem overwhelming, especially when that debt comes with high interest rates. A balance transfer to a credit card with an introductory 0 percent interest rate is a smart place to start.

One good option for balance transfers is Bank of America. Several of their credit cards come with introductory 0 percent interest, and they make these transfers easy.

If you go this route, you can pay off your credit card debt without paying interest—as long as you pay it off before that 0 percent offer expires, usually within 12 to 18 months. If you don’t, your new card’s permanent APR will kick in, and the debt you haven’t paid off will come with a higher interest rate.

If you want to try this and don’t yet have a Bank of America balance transfer credit card, we’ve got tips for choosing the best one for your needs.

Your Bank of America balance transfer can be done in as few as five quick steps. Here’s everything you need to know.

How to transfer a balance to a Bank of America credit card

It’s easy to do a Bank of America credit card balance transfer online. You can begin the process when you apply online for a Bank of America balance transfer credit card.

Enter the 16-digit account number on the credit card that currently holds the balance you’d like to transfer, then enter the balance amount that you’d like to transfer to your new Bank of America card. If your credit card application is approved, your balance will be transferred as requested.

If you already have a Bank of America balance transfer card and want to transfer a balance to it, log in to your credit card account and look for the “Transfer Balance or Get Cash” option. Select the option to transfer a balance and follow the instructions to complete your transfer. You’ll need to provide the account number of the credit card from which you’d like to transfer the balance, as well as how much of the balance you’d like to transfer.

You can also complete a Bank of America balance transfer over the phone. Call the number on the back of your Bank of America credit card, use the phone tree to indicate you’d like to make a balance transfer and have your old credit card and its balance handy.

What happens next? 

Once you’ve begun the balance transfer process, it should take no more than two weeks to complete. You’ll know you’re successful when you see the transferred balance appear in your Bank of America credit card account.

Important: Keep making payments on your original credit card until the balance transfer is complete. If a payment comes due while your transfer is in progress, pay it promptly. If you don’t, you run the risk of getting hit with late fees and penalty APRs, not to mention a drop in your credit score.

After your balance transfer is complete, make sure you pay off any additional interest that accrued on your original card during the process.

What you need to know about Bank of America balance transfers

  • Make sure you transfer your balances within the first 60 days of opening your account if you want to take advantage of any 0 percent APR introductory offer.
  • If the balance transfer you request exceeds the limit on your Bank of America credit card, you’ll only be able to transfer part of your old balances to your new account.
  • Try to pay off your balances before your 0 percent introductory APR period ends. Once the offer period is over, you’ll begin paying the regular variable APR on any balance left on the card.
  • Avoid transferring any balance under dispute. If you do, you’ll lose certain dispute rights on those charges.
  • You cannot transfer debt from one Bank of America product to another. In other words, if you are carrying a balance on one Bank of America credit card, you won’t be able to transfer it to another.

How to choose a Bank of America balance transfer card

Ask yourself what you’re hoping to get out of your Bank of America credit card. Are you looking for a card with a lengthy 0 percent introductory APR offer, or would you rather have a card with high cash back rewards? Is the APR on purchases important to you? Do you want a card that doesn’t come with a penalty APR for late payments?

The more you understand what you’re looking for in a top balance transfer credit card, the easier it will be to choose the right card for you.

Best Bank of America balance transfer credit card offers

Bank of America® Customized Cash Rewards credit card: Best for cash-back rewards

  • Balance Transfer Offer: Zero percent introductory APR for 15 billing cycles on purchases and balance transfers made in the first 60 days (13.99 percent to 23.99 percent variable APR on purchases and balance transfers thereafter)
  • Balance Transfer Fee: 3 percent ($10 minimum, whichever is greater)
  • Rewards: 3 percent cash back in the category of your choice (including gas, online shopping, dining, travel, drugstore or home improvement); 2 percent cash back at grocery stores and wholesale clubs, for up to a combined $2,500 in choice category/grocery store/wholesale club purchases per quarter; 1 percent cash back after that and on all other purchases. Preferred Rewards members can earn 25 percent to 75 percent more cash back on every purchase. Earn a $200 online cash reward bonus after making $1,000 in purchases in the first 90 days.
  • Annual Fee: $0
  • Credit Required: Good to Excellent (670–850)
  • Why should you do a balance transfer with the Bank of America Customized Cash Rewards card? The Bank of America Customized Cash Rewards card is one of Bankrate’s favorite cash back rewards cards, especially for people who already have a relationship with Bank of America and can take advantage of the Preferred Rewards bonus. If you’re hoping to pay off a balance while earning top-level cash back rewards on new purchases, this card is for you.

Bank of America® Customized Cash Rewards credit card last updated on 05.03.21

You might also want to consider the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America, the MLB™ Cash Rewards Mastercard® from Bank of America, or the U.S. Pride® credit card. These credit cards all offer the same balance transfer and cash-back rewards structure as the Bank of America Cash Rewards card, along with unique features:

  • Susan G. Komen Cash Rewards Visa: The Susan G. Komen foundation receives $3 when you open a credit card (and keep it for open for at least 90 days), 0.08 percent of all retail purchases (not counting returns) made with the card, and $3 for each annual renewal of a card that was in good standing during the previous 12-month period and does not have a zero balance at the time of renewal.
  • MLB: Choose a card featuring your favorite Major League Baseball team.
  • U.S. Pride: This card comes with a unique U.S. Pride design.

The information about the Susan G. Komen Cash Rewards Visa credit card from Bank of America, the MLB Cash Rewards Mastercard from Bank of America and the U.S. Pride credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

BankAmericard® credit card: Best for low APR

  • Balance Transfer Offer: Zero percent introductory APR for 18 billing cycles on purchases and balance transfers made in the first 60 days (12.99 to 22.99 percent variable APR thereafter)
  • Balance Transfer Fee: 3 percent (minimum $10)
  • Rewards: none
  • Annual Fee: $0
  • Credit Required: Good to Excellent (670–850)
  • Why should you do a balance transfer with the BankAmericard? With a 12.99 percent to 22.99  percent variable APR on purchases and no penalty APR for late payments, this card is an excellent way to save on interest.

Bank of America® Cash Rewards credit card for Students: Best for students who want cash back rewards

  • Balance Transfer Offer: Zero percent introductory APR for 15 billing cycles on purchases and balance transfers made in the first 60 days (13.99 percent to 23.99 percent variable thereafter)
  • Balance Transfer Fee: 3 percent (minimum $10)
  • Rewards: 3 percent cash back in the category of your choice (including gas, online shopping, dining, travel and more); 2 percent cash back at grocery stores and wholesale clubs, for a combined $2,500 in choice category/grocery store/wholesale club purchases per quarter; 1 percent cash back on all other purchases.
  • Annual Fee: $0
  • Credit Required: Good to Excellent (670 – 850)
  • Why should you do a balance transfer with the Bank of America Cash Rewards for Students card? While this card doesn’t make our list of the top credit cards for college students, it’s still a good option for a student who wants to transfer and pay off a balance while earning cash back rewards.

The information about the Bank of America Cash Rewards credit card for Students has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

BankAmericard® credit card for Students: Best for students who want to build their credit

  • Balance Transfer Offer: Zero percent introductory APR for 18 billing cycles on purchases and balance transfers made in the first 60 days (12.99 percent to 22.99 percent variable APR thereafter)
  • Balance Transfer Fee: 3 percent (minimum $10)
  • Rewards: none
  • Annual Fee: $0
  • Credit Required: No credit history
  • Why should you do a balance transfer with the BankAmericard for Students? If you’re just getting started on your credit journey, the BankAmericard for Students can help you build your credit score while you pay off any balances you might have picked up in your relatively fresh credit history.

The information about the BankAmericard credit card for Students has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Frequently asked questions

How often can I transfer a balance with Bank of America?

Although Bank of America doesn’t specify how frequently you can make balance transfers, you can submit up to three balance transfer requests during a single transfer session. Remember that your balance transfer requests, including any fees associated with the transfers, cannot exceed the available credit on your Bank of America balance transfer card. And if you have pending purchases that haven’t yet cleared your Bank of America credit card account, make sure to factor them into your available credit limit.

Can I get balance transfer checks with Bank of America?

Bank of America offers balance transfer checks, which are also called convenience checks. Be aware that these checks come with their own fees and interest rates, which might be different from the fees and rates associated with your balance transfer credit card.

What credit score do I need for a Bank of America balance transfer?

Different Bank of America balance transfer cards have different credit requirements. If your credit score is high enough to qualify for a Bank of America balance transfer card, it should be high enough to complete a balance transfer.

How can I check the status of my Bank of America balance transfer?

You can check the status by visiting your Bank of America online or mobile banking account. Select “Transfer Balance or Get Cash,” then “View Transfer History.”

How will a Bank of America balance transfer affect my credit score?

A transfer can improve your credit score in two ways. First, your score could go up if you open a new Bank of America balance transfer card and increase the amount of credit available to you. (Your credit score might drop by a few points after you open the card, thanks to the credit inquiry associated with the application, but it should bounce back fairly quickly.)

Second, your credit score could improve as you pay off your balance, as long as you aren’t simultaneously creating new debt. Remember: Lowering your credit card balances is a great way to raise your credit score.

How to do a balance transfer with different issuers