Instant approval balance transfer credit cards | finder.com

Instant approval balance transfer credit cards

We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.

Compare top balance transfer credit cards and start saving money with quick approvals.

A balance transfer credit card can lead to noticeable savings in the form of interest, especially if you opt for a card that comes with a promotional balance transfer offer. While the actual transfer time varies from one credit card provider to the next, some credit card companies offer instant approval that can accelerate the overall time it takes for your debt to be transferred from one card to another.

Compare cards with fast approval

Rates last updated June 21st, 2018
Name Product Product Description Intro APR for Balance Transfer APR for Purchases ( Purchase Rate ) Annual fee Minimum Credit Score
Chase Slate® Credit Card
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.
0% Intro APR for 15 months (with $0 for transfers in first 60 days. Then $5 or 5% balance transfer fee)
16.49% to 25.24% variable
$0
Fair (660-699)
BankAmericard® Credit Card
Transfer high rate balances and save on interest with an Introductory $0 balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10).
0% Intro APR for first 15 statement closing dates (with whichever is greater, $10 or 3% balance transfer fee)
14.49% to 24.49% variable
$0
Fair (660-699)
Blue Cash Everyday® Card from American Express
Earn $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive the $150 back in the form of a statement credit.
0% Intro APR for 15 months (with whichever is greater, $5 or 3% balance transfer fee)
14.74% to 25.74% variable
$0
Fair (660-699)
Chase Freedom Unlimited® credit card
Earn unlimited 1.5% cash back on every purchase – it's automatic. No minimum to redeem for cash back.
16.49% to 25.24% variable
$0
Fair (660-699)
Bank of America® Cash Rewards Credit Card
Earn more cash back for the things you buy most.
0% Intro APR for 12 statement closing dates (with whichever is greater, $10 or 3% balance transfer fee)
14.74% to 24.74% variable
$0
Good (700-739)
NASA Federal Platinum Advantage Rewards Credit Card
NASA Federal Platinum Advantage Rewards Credit Card
Enjoy perks and save money while gaining points that never expire with every purchase.
9.9% Intro APR for 90 days
11.40% to 17.99% variable
$0
Fair (660-699)
DCU Visa® Platinum Secured Credit Card
A great way to establish or improve your credit history.
13.00% variable
$0
Poor (Below 660)
Barclaycard Ring™ Mastercard®
A low, variable APR on purchases, balance transfers and cash advances.
10.49% variable
$0
Good (700-739)
Discover it® Secured Credit Card
2% Cashback at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus 1% cash back on all other credit card purchases.
10.99% Intro APR for 6 months (with the amount of each transfer, 3% balance transfer fee)
24.49% variable
$0
Poor (Below 660)
HSBC Cash Rewards Mastercard® credit card
Earn unlimited 1.5% cash rewards on all purchases. See Rates and Fees
0% Intro APR for 15 months (with whichever is greater: $10 or 4% balance transfer fee)
14.49%, 18.49%, or 24.49% variable
$0
Fair (660-699)
Apply now Read review
Fifth Third Secured Card
Build, or rebuild, your credit with each purchase.
25.49% variable
$24
Poor (Below 660)

Have we missed anything in the comparison table? Tell us

Compare up to 4 providers

What is an instant balance transfer credit card?

A number of credit card providers give new credit card applicants the ability to find out about the status of their balance transfer request instantly. Instantly, in this case, means you can expect a response soon after you hit the ‘submit’ button on your online application.

Credit cards with balance transfer offers charge little to no interest on transferred balances for a given time period, which commonly varies from 6 to 12 months. Even when the offer doesn’t include a promotional rate, you might still benefit if the new card’s interest rate is noticeably lower than that of your existing cards.

What can I expect when applying?

If you find out about your balance transfer application’s status immediately, you might not get much time to go through the nitty-gritty of your new card and its advantages as well as any restrictions it may have.

Is the decision really instant?

Don’t expect instant to mean split-second. The decision, though, is rather quick, sometimes as fast as less than a minute. However, it might take longer for other providers. Bear in mind that while approval is instant, the actual transfer takes longer.

What can I do to increase my chances of approval?

Make sure you meet all the eligibility requirements for the new card, and pay particular attention to its minimum income requirement. Have all the required documentation available to support your credit card application, and provide all relevant details of the accounts from which you wish to transfer balances.

How does my credit score affect instant approval?

Your credit score plays a significant part in the overall approval process. In fact, if you have a very high credit score, you’re most likely to be a candidate for instant approval when it comes to your credit card application. On the other hand, a lower credit score may prevent a credit card company from approving your application immediately or at all.

However, it’s important to remember that lenders look at many things when evaluating your application for a card. Other factors, such as too many inquiries into your credit, late payments, being at the higher end of your available credit and your income are all part of the bigger picture. Your credit score is one piece of the puzzle when it comes to how lenders view their credit risk with you.

As the decision is instant, does that mean I can apply for multiple cards?

Applying for multiple credit cards around the same time is never a good idea, as it reflects poorly on your credit file, which could hamper your efforts of getting credit in the future. If you’re approved for multiple credit cards, you might be tempted to spend more than you can afford to repay. This could lead to you falling behind on your bills.

Are instant approval balance transfer credit cards right for me?

If you’re looking for a quick response, applying for one can work well for you. Remember, though, that not all balance transfer credit cards offer instant approval, so you end up limiting your choices.

How long until everything is finalized?

Even if you’re approved right away, transferring balances from your existing cards to the new card can sometimes take up to two weeks. This is to allow time for processing of your application.

What else should I consider when applying?

Before you apply for an instant approval balance transfer card make sure you consider the following as well:

  • Is there a promotional offer?
    A number of credit cards come with promotional balances transfer offers, and some charge 0% interest or lower introductory rates. Don’t forget that these promotional periods expire after a given period of time, after which any outstanding balance starts accumulating interest.
  • What is the revert rate?
    At the end of the promotional period, outstanding balances from transfers will usually start charging the cash advance interest rate or its purchase rate. In most instances, the cash advance rate is considerably higher than the purchase rate. The purchase rate is usually determined when your application was approved and is often based on your credit.
  • How much can I transfer?
    Just how much you can transfer onto your new credit card depends on the card you get. While some cards allow you to transfer up to 80% of your card’s credit limit, others limit you to 50% of your card’s limit.

You can look forward to noticeable savings in a relatively short timespan by getting an instant approval balance transfer credit card. It’s best to compare a few before deciding which one to use as there are many options available.

Bottom Line

While instant approval on your balance transfer credit card application might speed things along, the actual transfer time can vary. There are also many factors that can affect whether you can get a decision right away. It’s important to keep paying on your older credit card balances until you’ve been notified that your balance transfer is complete.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

US Credit Card Offers

Important Information*
Deserve® Classic Card
Deserve® Classic Card

APR

24.49
variable

Annual fee

0 For the first year
More info
Luxury Card Mastercard® Gold Card™
Luxury Card Mastercard® Gold Card™

APR

16.49
variable

Annual fee

995 For the first year
More info
The First Access VISA® Credit Card
The First Access VISA® Credit Card

APR

29.99
variable

Annual fee

75 For the first year
More info
Indigo® Platinum Mastercard® Credit Card
Indigo® Platinum Mastercard® Credit Card

APR

23.9
variable

Annual fee

75 For the first year
More info
Go to site