5 Things To Consider With a Credit Card Balance Transfer
Learn how a credit card balance transfer works, what the benefits are, how to choose the right card for a balance transfer, and more!
Balance
Transfer
Pay off Credit Card debt faster
If you want to pay off credit card debt faster, a balance transfer is a great option. Consolidate multiple credit cards into one monthly payment, and pay it off faster with a balance transfer to a new or existing Honor credit card that features a low rate. To get started simply fill out the form below.
Membership Not Required To Start
Online Form Takes Minutes To Complete
No Balance
Transfer Fees
Transfer Multiple
Card Balances
Balance Transfer Form
Thanks for being an Honor member, and for being an Honor credit cardholder! As an existing cardholder, you can start the balance transfer process by filling out our simple and secure form below.
**Please Note**
If you are looking to transfer more than one credit card balance, please complete this form for each specific transfer.
What You Will Need:
- Name and payment address of the other financial institution or merchant
- Full credit card number
- The balance of the card(s) you want to transfer
*Please Note*
Response Time: All balance transfer requests are processed during normal business hours Monday – Friday, and you can expect a response within 1-2 business days
After Submitting: We recommend you continue to monitor your old account for two weeks to avoid late payments or other fees
Need Help?
If you have questions, we’re here to help. Stop by a local member center, or give us a call at 800.442.2800.
Choose The Right Card For You
Not an Honor cardholder? No problem! Before you begin the balance transfer process, let’s get an Honor credit card opened for you. We offer two great credit cards to fit your lifestyle. Both of our credit cards feature no annual fees, no balance transfer fees, and no cash advance fees.
Select Credit Card
- Our lowest rate credit card!
- Ideal for balance transfers, or everyday spending
- No annual fee, no cash advance fee, no balance transfer fee
- For complete details about our Select Credit Card click here
Select Rewards Credit Card
- Earn 2% cash back on all purchases
- Enjoy a competitive low rate
- No annual fee, no cash advance fee, no balance transfer fee
- For complete details about our Select Rewards Credit Card click here
*APR= Annual Percentage Rate
How A Balance Transfer Works
The goal of a balance transfer is to save money by transferring the balance of a high-interest credit card to a low-interest credit card. We don’t want there to be any surprises when you do a balance transfer with Honor, so we’ve explained how our process works.
Request a
Balance Transfer
Request a balance transfer by filling out our online form, calling us, or by stopping by a local member center.
Request
Processed
Our team will walk you through the process. This may include Honor membership and/or new credit card opening.
Transfer
Complete
We’ll send a payment on your behalf to the credit card vendor. That payment amount will then be added to your Honor card balance.
Begin Making
Payments
Once the transfer is complete you can begin making payments on your Honor credit card like you would any other credit card.
Monitor Your
Old Card
We recommend you monitor activity on your old card for 1-2 months for any accrued interest or unexpected charges.
Why You Should Transfer A Balance
Advantages
- No Fees! Many banks charge a balance transfer fee between 3-5 percent of the transfer amount. Not us! We’re here to help you achieve financial success. Along with no balance transfer fees, we also don’t charge annual fees or cash advance fees on any of our credit cards.
- Faster Payoff. Because we don’t charge a balance transfer fee or annual fee, you can pay off your balance faster. Both of our credit cards offer competitive low rates, which also helps.
- One-on-One Help. If this is your first time, or if your situation needs extra attention, we will help you through the balance transfer process to find the best solution for you!
Balance Transfer Tips
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A few simple tips to stop racking up more credit card debt, and to stop making impulse purchases on Amazon and other online retailers.
Balance Transfer FAQs
If you have a high-interest credit card racking up debt and want to move this amount to a lower-interest card, consider a balance transfer for debt consolidation. Balance transfers are a helpful tool for anyone able to pay off the balance quickly or at a lower rate to save on interest.
Every situation is different. We recommend you reach out to us so we can evaluate your needs, and give you a personalized recommendation.
Too many balance transfers can make it appear to creditors that you can’t pay your bills and are just shuffling high-interest debts to lower interest cards without the intention of paying off these balances quickly.
Most balance transfers are generally processed between 7 to 10 days, but different factors can affect that time frame. We recommend that if you have a scheduled payment coming up on the card balance you are transferring that you make that payment to be safe.
Absolutely! That’s actually a pretty common transaction. If you need help deciding what balances to transfer from what cards we would be happy to help!
