How do I Balance Transfer With Citi?

How do I Balance Transfer With Citi Bank?

You can make a balance transfer with Citi Bank either through their online website or by calling their customer representatives. Before you go about making a balance transfer however, make sure you are aware of all of Citi's conditions. 

How do I Complete my Citi Bank Balance Transfer Via Online?

1. You must first register for an online account once you receive your Citi Credit Card. 
2. After logging in with your credentials, click “view offer” next to “you’re eligible for a balance transfer” on the user dashboard. 
3. Once you click “view offer”, you will be able to see your balance transfer intro promotion or your regular balance transfer rate depending on your Citi credit card. 
4. Proceed by clicking on “I want this offer”. Review the details that drop down from clicking on “I want this offer”, and then select “Start your Transfer >”. 
5. You will be asked what type of transfer are you requesting, select from the four available options: credit card, direct deposit, check by mail, and loan or other creditors. 
6. You will then be asked the amount you want to transfer and the appropriate account number of where you want to transfer from. Click “Find my creditor” when you finish entering your details.
7. Verify all your information and the APR rate, and click “Continue”
8. You will be asked to review your information once again, and you will have the opportunity to request another balance transfer (up to 4 total).
9. Click “Continue”  and review the terms and conditions. 

How do I Complete my Citi Bank Balance Transfer Via Phone?

You can just as easily make a balance transfer via a phone call to Citi Bank’s customer service at 1(800)-374-9700. You need to ask to speak to a representative who can assist you in making a balance transfer. The representative will need certain information such as the amount you want to transfer and the account number.

What Conditions Should I Be Aware of Before Making a Balance Transfer?

Before you take advantage of Citi Bank’s intro APR promotion on balance transfers, there are important factors to consider: 

• Firstly, you should be aware that balance transfers with Citi Bank are not immediate and take at least 14 days to process after your application. Therefore it would be wise to continue to make payments on your existing account until your Citi Bank balance transfer has been executed and approved. 
• Additionally, you can only balance transfer the amount up to your credit limit. For example, if your credit limit is $1,000 then you can balance transfer a maximum of $1,000 to your Citi Bank credit card. 
• Intro APR on balance transfers needs to happen within a certain amount of days after your account has opened. Each Citi Bank credit card’s balance transfer varies, and so you can find the correct amount of days that the transfer needs to happen to qualify for the intro period within your terms and agreements. If you’ve accidentally misplaced your terms and agreements, you can go to the respective credit card’s website and see it there.
• You can’t transfer balances from one Citi account to another. This means that if you are looking to balance transfer from one Citi Bank credit card to another, you will be unable to do so. 

How Can I Make the Most Out of my Balance Transfer?

Balance transfers can be really beneficial tools if handled properly with the correct knowledge. You can make the most out of your Citi Bank balance transfer by quickly taking advantage of their intro APR if it is offered on your card. Further, you should seek to pay off the full amount transferred as an intro APR of 0% means you will have to pay nothing in interest payments. If your balance transfer APR isn’t 0% but is still lower than what you’re currently paying in interest payments, consider a balance transfer. Some balance transfer credit cards charge you an interest rate on your purchases even if you pay back your new purchases in full before the due date, when you make a balance transfer. Thus, closely look at your terms and agreements to see if that is the case on your specific card and if so, avoid using that card to make any new purchases after your balance transfer. Also, some credit cards charge balance transfer fees which could be pretty costly depending on the rate charged. Finally, a few credit cards cancel your introductory rate on balance transfers if you make late payments and other conditions. In all, it would be wise to thoroughly check through the terms and conditions of your Citi Bank credit card to make sure you aren’t caught by surprise and can enjoy your balance transfers with no worry.