Free Balance Transfer Details
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Benefits of a Credit Card Balance Transfer
What is a Credit Card Balance Transfer?
Glad you asked! A balance transfer is when you move the balance (or debt) from one credit card to another—usually to take advantage of better terms. Why make the switch? If your current card has a high interest rate, transferring your balance to a card with a lower, fixed rate can help you save money on interest, pay off your debt faster, and keep more cash in your pocket over time.
How Much Can You Really Save with a Lower APR? Let’s Break It Down.
You’ve got a $3,500 balance and can pay $150/month. Here’s what that looks like with a typical credit card vs. the GASCU Visa® Bonus Rewards Credit Card:
Other Credit Card – 24.99% APR*
- Payoff time: 48 months
- Total interest paid: $2,608
- Interest as % of total payments: 37%
GASCU balance transfer rate – 7% APR*
- Payoff time: 36 months
- Total interest paid: $686
- Interest as % of total payments: 18%
- Plus: $0 balance transfer fee
Your Bottom-Line Savings:
- Pay off your debt 1 year sooner
- Save almost $2,000 in interest
- Keep more money where it belongs—in your wallet
Simply apply online for a GASCU Credit Card to do your balance transfer. Or if you already have a GASCU Card, you can request a credit limit increase to cover the transferred amount.
Get in touch with a friendly member of our team and let us know you want to use your GASCU credit card for a balance transfer. You can do this online or over the phone.
Once we receive your request, we initiate a cash advance by issuing you a check to pay off your credit card debt. The same amount is transferred to your GASCU Credit Card, and a 7% APR is applied.