How can I apply for a credit card? does the amount owed matter or is there a cap on amount before it can be transferred to your company? how long does it take for the whole process? i.e from the application submit till acceptance and balance transfer? how does the balance get transferred? I mean the process of transfer. Thank you
Answered on Wednesday, August 4th, 2010 by
James Williams

Application and balance transfer terms differ from company to company. To know details of application process and balance transfers you should read terms and conditions of particular cards. On Balance Transfer Cards page of our site we’ve selected the best offers that allow you to move balance from one card to another on the best terms available.
You can apply for balance transfer either right when you are filling out your credit card application or after you receive the card. Make sure you read terms, because some credit card companies will apply introductory 0% APR only if you send a request for balance transfer by a certain date provided in your cardholder agreement, if you do it later, your transferred balance may be subject to different rates. Desired transferred amount including fees should not exceed your approved credit line or a portion of your credit line. The whole process usually takes 2 to 4 weeks, but may take up to 6 weeks in some cases or record short 48 hours. You will get a notice from your new issuing company stating that balance transfer is complete. You should continue to make payments to the old credit card issuer until you get from them a billing statement with a zero balance.

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If you feel like you can afford and manage the fourth card, you can apply for a credit card that fits your credit history. You can consider applying for a credit card with 0% introductory period on balance transfer and pay off the balance of one or two credit cards. For example, look at the […]

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