Key takeaways

  • Credit card issuers sometimes offer their customers balance transfer checks, which are paper checks that let you transfer a balance from one credit card to another credit card
  • If you’re interested in balance transfer checks, it would be best to contact your issuer to confirm they're currently being offered since some issuers no longer offer them
  • If you’re offered balance transfer checks with high fees and APRs, it would be better to consider a balance transfer credit card with a 0 percent intro APR period instead, or another method of consolidating debt

A balance transfer check is a paper check provided by a credit card issuer that lets you transfer a balance from one credit card to another credit card (with a different issuer). Credit card companies sometimes issue blank transfer checks so their customers will move an owed balance from a competitor’s credit card to their account. Balance transfer checks can help you pay off credit card debt, but they don’t always come with the same perks as a balance transfer credit card.

However, not all credit card issuers offer balance transfer checks. For example, if you want Chase balance transfer checks, you can request them online or over the phone. But if you want Capital One balance transfer checks, you’re out of luck.

Let’s take a closer look at how balance transfer checks work, how to request them and whether using them to pay off debt is a good idea.

How do balance transfer checks work?

Balance transfer checks work a lot like balance transfer credit cards. Both allow you to transfer a balance from one credit account to another. Also, the amount you transfer cannot exceed your balance transfer card limit. This means the balance you transfer to your credit card cannot take you over your total credit limit on that card. Instead of making a direct online transfer, you’ll write a check against one credit card so you can pay off another card’s balance.

Let’s consider this example: Credit Card A comes with introductory 0 percent APR balance transfer checks. You decide to use one of your balance transfer checks to pay off a $1,000 credit card balance you’re currently carrying on Credit Card B. You make your balance transfer check out for $1,000 and use it to make a payment against Card B. At that point, Card B’s balance is cleared out — but Card A has $1,000 added to its balance (plus any associated balance transfer fees) since you just used a balance transfer check to borrow $1,000 from Card A to pay off Card B.

That’s how a balance transfer check can help you consolidate your debt and manage your credit card balances. If Credit Card A offers lower interest rates than Credit Card B, transferring a balance to Credit Card A could save you a lot of money in interest charges.

Take the time to do the math with our credit card balance transfer calculator to determine the amount of time you’ll need to pay off your debt.

Considerations before using a balance transfer check

Both balance transfer checks and balance transfer credit cards often come with balance transfer fees. This means you’ll pay a fee for every balance you transfer, often in the form of a percentage of the transferred balance. Most balance transfer credit cards charge fees that range between 3 percent and 5 percent, which means you’ll pay between $30 and $50 in fees for every $1,000 you transfer. Balance transfer checks can have significantly higher balance transfer fees than balance transfer cards, so it’s important to consult the fees section of your credit card agreement before using them.

Another reason to read the fine print before using a balance transfer check is to find out your balance transfer APR and whether you’ll get to take advantage of any introductory APR promotions. While the best balance transfer credit cards offer a 0 percent intro APR on balance transfers for a year or more, not all balance transfer checks offer the same benefit. If your balance transfer checks don’t include a 0 percent intro APR period, you’ll start paying interest on your balance as soon as it’s transferred.

You should also make sure you’re dealing with a balance transfer check and not a convenience check, which allows you to take out a cash advance against your credit card. While you can use a cash advance to pay off credit card debt, convenience checks typically come with high APRs and significant cash advance fees. Knowing the difference between a balance transfer check and a convenience check can help you avoid making an expensive mistake.

Which issuers offer balance transfer checks?

Each credit card issuer has its own method of issuing balance transfer checks. Some credit card issuers, such as Citi, may preemptively mail balance transfer checks to eligible cardholders. Other issuers may allow you to request balance transfer checks. For example, if you want Chase balance transfer checks, you may be able to request checks online or over the phone. You may also be able to get balance transfer checks from Bank of America, but it seems to treat them the same as a cash advance.

In some cases, issuers may not offer balance transfer checks at all. Neither Capital One nor American Express currently offers balance transfer checks. However, both issuers allow cardholders to complete a balance transfer online.

If you’re interested in obtaining balance transfer checks, it would be best to contact your issuer to confirm they’re currently being offered and to see if you’re eligible.

Is using a balance transfer check right for you?

If your balance transfer check offers benefits on par with today’s best balance transfer credit cards, then using it to consolidate debt and pay off old balances can be a good idea.

On the other hand, balance transfer checks that come with high fees and high balance transfer APRs are rarely your best choice — especially because there are likely many balance transfer credit cards that may be available to you that will offer lower fees and better terms.

Balance transfer checks aren’t your only option for paying down credit card debt. If you’re not interested in using a balance transfer check or balance transfer card to pay off debt, you might want to consider other popular debt repayment methods, such as a low-interest personal loan to pay off your credit card or work with a credit counseling service to learn how to create a budget, consolidate your debts and more.

If you’re interested in more debt guidance, check out our credit card debt resources to discover how you can better manage your debt, and also refer to our debt repayment calculator.

How to opt out of balance transfer checks

Some issuers will keep sending balance transfer checks from time to time, even if you haven’t specifically requested them. If you don’t want to get these checks, you can choose to opt out of such marketing offers.

Do this by contacting the issuer directly – either by phone, online, through email or regular mail. Your card should have a customer service number on it. Use that contact information to follow up with a customer service representative and inform them of your preference. You could also look up your card account online and follow the information available there to opt out of marketing offers.

The bottom line

Balance transfer checks can help you consolidate your credit card debt and pay off old balances — but not all offer the same terms as today’s top balance transfer credit cards. Make sure the check you want to use for a balance transfer is not a cash advance convenience check that carries a much higher rate than a regular balance transfer check.  That’s why you should verify the interest rate before you use a balance transfer check. In some cases, using a balance transfer check to pay off debt will be less cost-effective than applying for a balance transfer credit card.