It generally takes up to 7 days to process the request. Balance transfers from third-party creditors will not be posted immediately to your accounts with those creditors. These amounts are one-time payments that may not satisfy any or all payment obligations you may have in connection with third-party accounts. You should continue making the required payments to your designated third-party creditors per the applicable account terms.
How long does it take for a balance transfer to process?
Keep more of what you earn and earn more on what you save.
Checking your rate won’t impact your credit score.2
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Related FAQ's
Balance transfers are canceled when a payment to a creditor fails.
No. Once a balance transfer has been initiated, it must be completed and cannot be transferred.
If you don't see the option to initiate a balance transfer, it's possible that your account is blocked.
Your annual percentage rate (APR) is the overall yearly cost of your loan, including fees and interest. The APR on LendingClub Bank loans ranges from 7.04% to 35.99%.
Phishing is an attempt to steal your personal and financial information, perpetrated by bad actors posing as a trusted company or individual, to lure you into clicking a malicious link or providing sensitive information over the phone.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.Â
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
