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Can I make a balance transfer with the same bank?

You likely can't transfer a balance between cards by the same issuer.

Updated

Fact checked

If you get an offer in the mail for a balance transfer credit card, you may be ready to jump on it. You might then be surprised to learn that most credit cards won’t allow you to make the transfer within the same credit card company.

So if you’re considering a balance transfer, find out the issuer and what debt it’s willing to take on.

Can I transfer debt with the same issuer?

Transferring debt between cards with the same issuer is typically not allowed. Most credit card companies have restrictions on transferring balances on other credit cards or loans from the same issuer.

For example, if you have debts on a Citi® Double Cash Card and Citi® Diamond Preferred® Card, your transfer application will likely be denied because they’re both Citi credit cards.

Check with the issuer before you apply for your balance transfer card to learn if you can transfer balances from certain cards.

While it’s very rare an issuer will approve a balance transfer within the same bank or provider, there are sometimes exceptions. For example, Barclays will consider a transfer between some of its issued cards at its discretion.

Which credit card providers accept balance transfers from cards they issued?

Any providers that accept balance transfers from a credit card issued by itself likely only do so on a case-by-case basis. However, you may be able to transfer a balance from another issuer to a card you’ve held for a long time — sometimes even with a promotional APR.

Credit card issuer Accepts balance transfers from credit cards issued by it Accepts existing customer balance transfers
American Express
x
checkmark
Bank of America
x
checkmark
Barclaycard
x
checkmark
Capital One
x
checkmark
Chase
x
checkmark
Citibank
x
checkmark
Discover
x
checkmark
HSBC
x
checkmark
USAA
x
checkmark
Wells Fargo
x
checkmark

Compare balance transfer credit cards

While you typically can’t transfer a balance between the same lender accounts, there are plenty of strong options to choose from. Here’s a few choices you can compare to get you started.

%
Name Product Amount saved Balance transfer APR Balance transfer fee Recommended minimum credit score Filter values
Citi® Diamond Preferred® Card
0% intro for the first 18 months (then 14.74% to 24.74% variable)
$5 or 3% of the transaction, whichever is greater
740
An impressive 18 months intro APR on balance transfers and purchases, as well as no annual fee make this one of the top 0% APR cards available.
Citi® Double Cash Card
0% intro for the first 18 months (then 13.99% to 23.99% variable)
$5 or 3% of the transaction, whichever is greater
740
Get a strong 18 month 0% intro APR on balance transfers AND up to 2% back. This is a rare card that offers both rewards and balance transfers.
TD Cash Credit Card
0% intro for the first 15 months (then 12.99%, 17.99% or 22.99% variable)
$5 or 3% of the transaction, whichever is greater
680
3% on dining and 2% on groceries make this a valuable card for food purchases. Use it while traveling, too, with no foreign transaction fees. Available in: CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT
CardMatch™ from creditcards.com
See issuer's website
300
Use the CardMatch tool to find cards you're likely to qualify for with your credit score, without a hard pull on your credit.
Citi Rewards+℠ Card
0% intro for the first 15 months (then 13.49% to 23.49% variable)
$5 or 3% of the transaction, whichever is greater
740
Get a strong 15 month 0% intro APR on balance transfers AND up to 2x points. This is a rare card that offers both rewards and balance transfers.
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Compare up to 4 providers

Why don’t banks allow balance transfers from the same bank?

It comes down to profit. Lenders make their money from cardholders through fees and interest. There’s not much benefit for the lender to let their customers freely save on interest.

Plus when you’re sent balance transfer offers in the mail, the issuer is often looking for new customers. A balance transfers serves as an incentive to open up that account with a new bank.

What’s the difference between a credit card issuer and a credit card brand?

While credit cards are often branded by banks, stores or even supermarkets — like Lowe’s, Amazon and Costco — these cards are actually issued by larger financial institutions like Chase.

To go one step further, there’s also a difference between a credit card issuer and a credit card network. Chase may issue the Amazon Rewards Visa Signature Card, but the card is part of the Visa network. Networks facilitate transactions and determine where cards are accepted.

Changes between credit card brands and issuers

Some credit card brands may change card issuers from time to time. So, check your current card issuer when you’re about to request a balance transfer.

In some cases, a different issuer may be affiliated with your account, which could affect your ability to balance transfer your debt to other associated credit card brands.

What happens if I apply for a balance transfer with the same credit card issuer?

If you accidentally apply for a balance transfer with the same provider, the impact depends on the companies involved and your financial circumstances. Some potential outcomes include:

  • Your application may be declined.
    In most cases, the reason your application is denied has more to do with other factors, including your credit score and history.
  • It could affect your credit score.
    Every time you apply for a credit card, the company does a hard pull on your credit that can temporarily lower your score. Multiple denied applications can be bad news for your credit.
  • You could get an offer for the new card without the balance transfer.
    If you have good credit, you’re likely to be approved for the card, even without the balance transfer offer.

Bottom line

Before applying for any balance transfer, read the terms and conditions to understand the fees, expectations and limitations. Even if a bank allows you to transfer your balances, promotional terms such as 0% intro interest rates may not always be available to existing cardholders. Compare your balance transfer card options to find one that best fits your needs.

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