Balance Transfer Credit Card Limits: A Complete Guide

DC
By Doug Milnes, CFA
Edited by Lukas Velunta

Updated: October 29, 2024

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A balance transfer limit is the maximum amount of debt you can transfer from one credit card to another. By getting a limit that can cover your debts and moving them from a high-interest card to a card with lower interest, you can potentially save on interest payments.

The credit card issuer may set a balance transfer limit based on certain factors. This limit may be a fixed amount, or it may be a percentage of your total credit limit on the new card.

For example, American Express caps its transfers to $7,500, no matter how high your credit limit is. Or if you have a $7,000 credit limit with your Discover it Balance Transfer card, the amount you can transfer is limited to 97% because you have to account for the 3% balance transfer fee.

KEY TAKEAWAYS
  • You can typically transfer up to your credit limit, minus any balance transfer fees, though some cards set a specific dollar limit.
  • To secure a higher credit limit, enhance your credit score, update any increase in income and maintain a positive relationship with your bank.
  • If your credit limit doesn't cover the entire balance, consider a debt consolidation loan, credit counseling or a personal loan as alternatives.

Transfer Limits with a Balance Transfer Card

The amount you can transfer hinges on the credit limit of your new card and the policy of that card issuer. While there is no universal rule, here are some of the common policies across cards:

  1. 1
    Total available credit less balance transfer fees

    Certain banks allow balance transfers up to the full extent of your total available credit limit. For example, if your credit limit is $10,000, and your balance transfer fee is 3%, you could balance transfer $9,708.

  2. 2
    Capped amount

    Some credit cards put a cap on how much you can transfer, and it's not always tied to your credit limit. Take Chase for example. They set a fixed ceiling, so no matter how high your credit limit might be, you can only transfer up to $15,000 or your credit limit, whichever is lower.

  3. 3
    Number of balance transfers

    Look at the terms and conditions to figure out the number of balance transfers you're allowed to make. While many card issuers don't set specific limits, some have restrictions. For instance, American Express typically limits you to two balance transfers, and with each transfer, you can consolidate up to four debts or accounts in your name.

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MONEYGEEK EXPERT TIP

Always review the debts you're transferring. If you include a disputed charge, you risk forfeiting any dispute rights or claims that you may have.

Balance Transfer Limits Per Card Issuer

The maximum balance you can transfer depends on your chosen card's policy, usually being up to your available credit minus any balance transfer fees. We've outlined the policies of major card issuers to give you an idea of your transfer limit:

Issuer
Transfer Limits

American Express

With American Express, you're limited to just two balance transfers. And for each transfer, you can only transfer up to four accounts. The amount you transfer should be below your credit limit and should not exceed $7,500. Keep in mind that the smallest amount you can shift is $100. And you cannot transfer between American Express Credit Cards and affiliates.

Bank of America

For Bank of America cards, you can transfer balances up to your credit limit, minus the balance transfer fees of 3%. If your balance transfer request goes over this limit, Bank of America may choose to send either the full amount or a partial payment to your creditors, in the order you specified. Note that transfers between Bank of America cards and their affiliates are not allowed.

Capital One

The limit Capital One will give you depends on your credit score, income and your ability to pay. While Capital One does not have a transfer limit cap, you still have to take into account the balance transfer fees. Currently, it’s 3% if a balance is transferred within the introductory period and 4% when Capital One offers you a balance transfer at a Promotional Rate. As with many credit card issuers, balance transfers between Capital One cards are not allowed.

Chase

You can only transfer up to your credit limit net of the balance transfer fee or $15,000, whichever is lower. If your transfer request exceeds your limit, Chase has the discretion to either decline it or approve a partial amount. Be sure to review the terms and conditions since Chase also offers a lower balance transfer fee rate if you move your balance within 60 days from account opening.

Citi

The maximum amount you can transfer to a Citi card differs slightly from other card issuers. The maximum amount you can transfer plus the balance transfer fees should be less than your available credit limit. Also, Citi has the discretion to limit what you can transfer regardless of your credit limit.

Discover it

Discover it offers more leeway than others like Chase and Amex. You have the option to transfer right up to your available credit limit. And unlike Chase and Amex, there's no upper limit or cap on the transfer amount.

U.S. Bank

U.S. Bank has three credit cards specifically designed for balance transfer. You are allowed to transfer up to your credit limit balance less balance transfer fees, which is either 3% or 5%. If you are to transfer debts in excess of your credit limit, U.S. Bank can allow partial transfers or deny your request completely.

Wells Fargo

You can transfer the balance to a Wells Fargo credit card up to your credit limit, less balance transfer fees ranging from 3% to 5%. The minimum credit limit is $1,000, and a higher credit score could qualify you for an increased limit.

How to Qualify for a Higher Credit Limit on Balance Transfers

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    Improve your credit score

    The most fundamental step in securing a higher credit limit is to improve or maintain a good credit score. You can do this by paying your bills on time, keeping your credit utilization ratio low and limit your applications for new credit. We don't recommend closing old credit cards unless necessary.

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    Inform your bank of your increase in income

    Letting the credit card companies know that you have a higher income suggests you're better equipped to pay off debts. If your income increased since your last credit application, inform your bank and update your income details on your profile.

Having a good relationship with the bank may also help you get a high credit limit. In terms of issuers, Amex will more likely give you a high credit limit if you have a good credit history with them. But note that there is still no guarantee that you’ll get the credit limit that you want.

What to Do if Your Credit Limit Is Too Low

If the credit limit on a balance transfer card isn't high enough to cover your entire debt, you can transfer a portion of the amount and pay off the remainder on your old card. Another option is to explore alternatives such as a debt consolidation loan or credit counseling.

Applying for an additional card is also an option but this can lead to multiple hard inquiries that will negatively affect your credit score.

Alternatives to Balance Transfer Credit Cards

There are a lot of advantages to getting a balance transfer card. But suppose the limit is too low or the period is too short. In that case, you have other tools and strategies to consider for paying off significant debt:

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    Debt Consolidation

    When you consolidate your debts, you combine debts into a single one with a lower interest rate. This can help you manage your debts and payments as you only need to handle one monthly payment instead of several. You can do this through a debt consolidation loan, which pays off your existing debts, and then you repay this new loan over a set term.

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    Personal Loan

    With a personal loan, you borrow money from a bank, credit union or online lender, and pay it back in fixed monthly installments, usually over two to five years. Unlike a debt consolidation loan that's specifically used to pay off debts, you can use a personal loan for various purposes, including consolidating debts, making a significant purchase or covering personal expenses.

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    Credit Counseling

    Credit counseling helps you manage your finances and debts. Credit counselors provide you with guidance on budgeting, money management and reducing debt. They can also negotiate with creditors on your behalf to lower interest rates or set up a debt management plan. Credit counseling can be an excellent place to start if you're struggling with debt and need professional advice on the best course of action.

Next Steps

Once you know your credit limit and the maximum amount you can transfer, decide which balances to transfer, focusing on those with the highest credit card interest. This is particularly important if your limit doesn't cover all your debts.

Remember not to transfer disputed charges to preserve your dispute rights. For any remaining balance, consider a debt consolidation or a personal loan with a low interest rate.

Alternatively, debt avalanche is also another way to manage your debt. Continue paying off the balance on your existing card, targeting the highest interest rate first. Then once that’s closed off, pay the debt with the next highest interest rate. Do this until you paid off all your balances.

After transferring your balance, keep your old credit card open, as closing it could affect your credit score.

FAQ About Balance Transfer Limits

We've covered a lot on balance transfer limits, but you may still have some questions. We’ve compiled the most common questions to give you a clear, comprehensive understanding of the subject.

Can I negotiate my balance transfer limit?
Does the balance transfer limit include the transfer fee?
Can I do multiple balance transfers to the same card?
What happens if I try to transfer a balance that's higher than my limit?

About Doug Milnes, CFA

Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.

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