How to Transfer a Balance to Your Bank of America Credit Card

What a balance transfer does and when to use one

A balance transfer moves debt from one credit card to another — usually from a card with a high interest rate to a Bank of America card offering a lower rate, often 0% for a set period. You are not paying off the debt; you are moving it to a different card where the terms may be better. This can save you money on interest if you pay down the balance during the promotional period.

Balance transfers make sense when you carry a balance on another card and want to reduce what you pay in interest charges. They do not work if you plan to keep carrying a balance indefinitely — the promotional rate expires, and the regular rate kicks in. They also do not help if you cannot pay down the principal during the promotional window.

Bank of America offers balance transfer options on several of its credit cards. The specific terms — how long the 0% period lasts, what fee applies, which cards are may be able to access — vary by card and change over time. You will see the exact terms when you explore or log into your account.

Key Takeaways

• You initiate a balance transfer through your Bank of America online account, by phone, or by mail, and you will need the account number and balance of the card you are transferring from.
• Bank of America typically charges a balance transfer fee of 3% to 5% of the amount transferred, charged upfront to your new card.
• The 0% promotional period lasts a set number of months (the length varies by card), after which the regular purchase or balance transfer rate applies.
• You should pay down the transferred balance before the promotional period ends, because interest will accrue at the regular rate once it expires.
• The transferred balance and new purchases may have different interest rates and payment terms, so track them separately in your account.

How to request a balance transfer online

Log into your Bank of America credit card account at bankofamerica.com or through the mobile app. Look for a section labeled "Balance Transfers," "Transfers," or "Manage Your Card" — the exact label varies by card type and app version. Click or tap that section.

You will be asked to enter the account number of the card you want to transfer from, the amount you want to move, and the name of the card issuer. Have that card in front of you. Bank of America will show you the balance transfer fee (usually 3% to 5% of the amount) and the promotional rate and period before you confirm. Review these numbers carefully — the fee is added to your Bank of America balance when ready.

Once you confirm, the transfer typically posts within 7 to 10 business days. During that time, keep making payments on your old card to avoid late fees. The old card issuer will receive the payment from Bank of America and credit your account.

Requesting a balance transfer by phone or mail

Call the customer service number on the back of your Bank of America card. Tell the representative you want to request a balance transfer. Have ready the account number of the card you are transferring from, the issuer name, and the amount you want to move.

The representative will confirm the balance transfer fee, the promotional rate, and the length of the promotional period. They will also verify that the card you are transferring from is in your name — Bank of America cannot transfer balances from cards held by someone else. Once you confirm, the transfer is submitted and will post within 7 to 10 business days.

If you prefer to request by mail, write to the address on your Bank of America statement. Include your account number, the account number of the card you are transferring from, the issuer name, and the amount. Mail takes longer, so phone or online is usually faster.

Understanding the balance transfer fee and promotional period

The balance transfer fee is a percentage of the amount you transfer, charged upfront. If you transfer $5,000 and the fee is 3%, you owe $150, which Bank of America adds to your balance when ready. This fee is not waived — it applies to every balance transfer. The fee percentage varies by card; some cards charge 3%, others 4% or 5%.

The promotional period is the number of months during which the 0% rate applies to your transferred balance. This period varies by card and by offer — some cards offer 6 months, others 12, 18, or 21 months. Once the promotional period ends, the regular balance transfer rate applies, which is typically 15% to 25% depending on your creditworthiness and current market rates.

If you have not paid off the transferred balance by the time the promotional period ends, you will start paying interest on the remaining balance at the regular rate. This is why balance transfers work best when you have a plan to pay down the debt during the promotional window.

What happens to new purchases after a balance transfer

New purchases you make on your Bank of America card after the balance transfer posts are treated separately from the transferred balance. They typically have a different interest rate — usually the regular purchase rate, not the 0% promotional rate — and may have a different payment due date or minimum payment calculation.

This separation matters because your minimum payment may not cover both the transferred balance and new purchases equally. Bank of America applies your payment to the highest-rate balance first, which is usually new purchases if they are not on a promotional rate. To avoid interest on new purchases, pay them off in full each month or avoid making new purchases until the transferred balance is paid down.

Check your statement each month to see how your payment is being split between the transferred balance and new purchases. Your online account will also show the balance and interest rate for each separately.

Common mistakes to avoid with balance transfers

Do not close the card you transferred from when ready after the transfer posts. Closing it can hurt your credit score by reducing your available credit and shortening your credit history. Leave it open with a zero balance, or use it occasionally for small purchases you pay off right away.

Do not assume the promotional rate applies to new purchases. It applies only to the transferred balance. If you make new purchases on the card, they accrue interest at the regular rate unless the card offers a separate 0% promotional period for purchases.

Do not miss a payment during the promotional period. Most balance transfer offers require you to make at least the minimum payment on time each month. A single late payment can end the promotional rate early, and the transferred balance will start accruing interest at the regular rate when ready.

Do not transfer more than you can realistically pay down during the promotional period. The fee alone makes this expensive — a $10,000 transfer with a 3% fee costs $300 upfront. If you cannot pay down the balance before the promotional period ends, you will pay interest on a larger amount than you started with.

How balance transfers affect your credit

Requesting a balance transfer triggers a hard inquiry on your credit report, which may lower your score by a few points temporarily. This inquiry stays on your report for about two years but has less impact over time.

Opening a new card (if you do not already have a Bank of America card) also lowers your score slightly by reducing your average account age and increasing the number of recent inquiries. However, the benefit of a lower interest rate usually outweighs this short-term impact if you pay down the balance during the promotional period.

Your credit score may improve once you transfer the balance, because your credit utilization — the percentage of your available credit you are using — may drop on the card you transferred from. This improvement can offset the initial dip from the hard inquiry.

Frequently Asked Questions

Can I transfer a balance from another bank's card to Bank of America?

Yes. Bank of America accepts balance transfers from any credit card issuer — Visa, Mastercard, American Express, Discover, or any other bank. You cannot transfer from a debit card, prepaid card, or line of credit. The card must be in your name.

What if my balance transfer is denied?

Bank of America may deny a balance transfer if your credit score is too low, your income is insufficient, or you have too much existing debt. If denied, you can try again after improving your credit score or reducing other balances. You can also contact customer service to ask why the transfer was denied and what you can do.

Can I transfer a balance multiple times to the same Bank of America card?

Yes, but each transfer is a separate transaction with its own fee and may have different promotional terms. The promotional period applies to each transfer separately, so a second transfer does not reset the clock on the first one. Track each transfer's expiration date separately to avoid missing the important date.

What if I pay off the balance before the promotional period ends?

You will not pay any interest on the transferred balance. Paying it off early is the best outcome — you avoid interest entirely and can close the card or use it for other purposes. There is no penalty for paying off a balance transfer early.

Do I have to use the card after a balance transfer?

No. You can leave the card unused after the balance transfer posts. However, Bank of America may close inactive accounts after a long period of no activity, so using it occasionally for small purchases you pay off right away keeps the account active without adding debt.