No. Once a balance transfer has been initiated, it must be completed and cannot be transferred. You are welcome to pay more than the minimum monthly payment and pay off the balance transfer before the end of the term, which may save you interest.
I initiated a balance transfer by mistake. Can I cancel the balance transfer?
Keep more of what you earn and earn more on what you save.
Check your rate. It won’t impact your credit score.2
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Related FAQ's
It generally takes up to 7 days to process the request.
If you don't see the option to initiate a balance transfer, it's possible that your account is blocked.
Balance transfers are canceled when a payment to a creditor fails.
Rates and fees for your auto refinance loan depend on several factors, like your credit history and income. We’ll let you know about any potential fees or other costs during the application process, so you can be sure you’re making the right choice.
No. If your monthly payment amount is $300 but you pay $400, you will still receive $6.00 (2% x $300) in cash back.
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 total annual cost to borrow money, including fees, expressed as a percentage.
{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.
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.
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