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A balance transfer could help you save on interest and reduce monthly payments. You can easily move the balance from another credit card to your Navy Federal Credit Card.

If you don't have one yet, check out our options or see if you’re eligible to become a Navy Federal member.

Video Transcript for Balance Transfers

Text: A balance transfer could be a great tool to save money on interest and pay off credit card debt faster.

An image shows an arrow encircling a dollar sign.


Then a dotted line rotates around a circle that shows credit cards inside.

Text: Look for a card without balance transfer fees. Ask yourself: what's the rate once the promo ends?

A calendar shows 6 months, 12 months, 15 months, while the hands on a clock turn.

Then a flag waves on a mountain top.

Text: Conquer your debt with a balance transfer!

Logo: Navy Federal Credit Union

Text: Army, Marine Corps, Navy, Air Force, Space Force, Coast Guard, Veterans. Our Members Are Our Mission.

Navy Federal is insured by NCUA.

Disclaimer: This video is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.

Text: NFCU, Copyright 2024. Federally insured by NCUA.

Why Transfer Your Balance?

A balance transfer involves moving the debt from one or more credit card accounts to a different credit card. This way, you can focus on what you still owe, consolidated into just one account, with one interest rate. Balance transfers are usually done to help consolidate payments or get a lower interest rate (such as when a credit card has a low promotional rate), which could save you money in the long run.

Transferring a balance is easy. And, if you’re transferring to an existing card, it won’t require a “hard inquiry” that could impact your credit score. 

Steps to Transfer Your Credit Card Balance to Navy Federal

  1. Step 1

    Check your current balance and interest rate.

    To make sure a balance transfer is best for you, check out the balance on your current card, as well as the interest rate on that balance. That rate could be on your most recent credit card statement or your card issuer’s website, or you can contact them directly to ask. With a balance transfer, you can move that balance over to a new or existing card. New cards may have a temporary low or 0% introductory annual percentage rate (APR) for transferred balances. 

  2. Step 2

    Gather everything you need.

    You’ll need the name and address of your other financial institution (if applicable), your account number at that institution and the amount you’d like to transfer, which can be any amount up to your assigned credit limit.

  3. Step 3

    Choose the credit card that’s right for you.

    Navy Federal has several credit cards, so choose the one that's right for you. Browse our cards to compare variable APRs, perks and rewards programs, and even see if you prequalify for your card of choice.

    Use the balance transfer calculator below to see how much you could save based on your current interest rate and balance, plus how much you plan on paying off and spending per month. 

  4. Step 4

    Request a balance transfer.

    If you’re using the Navy Federal app*, sign in to select the card you’d like to transfer a balance to. In the Maintenance section, select Manage Card, select Balance Transfer, and follow the on-screen instructions to complete your transfer.

    If you’re using online banking, sign in and select Cards on the navigation bar. Select the card you'd like to transfer a balance to, and select Balance Transfer within the Card Benefits section. Follow the on-screen instructions to complete your transfer.

It can take at least 2 weeks for a balance transfer to go through. During that time, continue making payments on your old card to avoid any late fees or delinquency.

Finally, decide what you want to do with your old card. Keeping an available line of credit open and not using it may positively impact your credit utilization and as a result, positively impact your score. If you think you may be tempted to rack up more charges on the card, it might be best to close the account.

Balance Transfer Calculator

This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers.

How This Balance Transfer Calculator Works

Enter your current card balance, interest rate and your anticipated monthly payments. Then see what a lower interest rate on a Navy Federal card could save you if you transfer your balance to that card.

Explanation of Terms

Card Activity

  • Card balance: Enter the amount you wish to transfer.
  • Current card interest rate: Enter the APR you pay with your current credit card.
  • Monthly payments: Enter an estimate of how much you’ll be able to pay off in an average month.

Balance Transfer Card

  • Introductory interest rate: The length of time you’ll have the low promotional rate on your Navy Federal credit card account. After this period, your interest rate can be set anywhere up to 18%. This rate will vary based on individual creditworthiness.

Balance Transfer FAQs

A balance transfer is when you move the balance of one or multiple credit cards or other loans to a new or existing credit card account. It’s a smart way to save money on interest, consolidate payments and pay off credit card debt sooner.

If you’re looking to save on interest, lower your monthly payments or consolidate payments, it’s worth looking into a balance transfer. This may be a helpful move, allowing you to pay off debt more quickly and take control of your finances. Read more about the questions when considering a balance transfer at MakingCents.

That depends on a few factors. Applying for a new credit card will result in a hard inquiry on your credit report, which can lower your score temporarily. Adding a new card will affect your overall length of credit history, which could also temporarily lower your score. But, a new card with a new line of credit can reduce your overall credit utilization, positively impacting your score.

If you're a member but don’t have a Navy Federal Credit Card, check out our credit card offers and apply for a card that fits your needs. When completing the application, simply select the Balance Transfer option.