Balance Transfer

Move high-rate balances over for FREE.

Let's do this

There’s a reason you’ve never heard the expression, “the best things in life are 23.99% APR.” If you’re looking to transfer a high-rate credit card balance, it’s probably better to choose a free option, right? Well, we agree! So we did exactly that with our UMe Visa® Platinum Card.

You read right. We said FREE. When you transfer any balance over to our UMe Visa, you’ll pay zero fees. Plus, we offer FIXED rates as low as 9.90% APR*, which means you won’t get any rate hike surprises from us!

Why do a credit card balance transfer?

Transferring your balance(s) can provide you with benefits you’ll find hard to beat. Here are 3 major perks of completing a balance transfer.

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Lower interest rates

Why pay more in interest than you need to? (Hint: Don’t!) The lower your interest rate on your debts, the better. Reducing your interest rate lets you pay off your balance sooner since more of your monthly payments goes to your principal balance instead of those pesky interest charges.

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Better terms

You want a credit card that treats you right. Transferring your balance(s) will let you secure better terms. Maybe you’ll pay lower fees overall. That’s more money in your pocket and less in ours. Cha-ching!

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Debt consolidation

Do you want to take more things off of your To Do list? When you consolidate your debts, you’ll be making fewer payments each month. Doing so makes it easier to pay your bills and reduces the chance that you’ll miss a payment and get stuck with a late fee.

When should you do a balance transfer

When U can lock in a lower, fixed rate!

Reduce your interest rate

If you have a credit card with a 24.99% interest rate and balance of $4,500, here are your payoff stats:

Current card:
If you pay $150 / month, it will take you 48 months to pay off, and $2,608 or 37% of your total payment will go to interest.

Balance transfer card:
If you transfer that balance during a balance transfer with an interest rate of 9.90%, paying the same $150 per month, you’ll pay off your balance in just 35 months. Only 13% will go to interest. Now you’re only paying $686 in interest payments.

By transferring your balance, you’ll save almost $1,922 in interest payments and pay off your credit card debt 13 months sooner. Talk about a smart move.

Additional Perks

If you’re into saving money (like we are for U, obviously) you’ll love some of the other perks of our Visa Platinum Card:

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Low FIXED rate

One and done. No unwanted surprises.

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Zero balance transfer fees

Move expensive balances from high, variable rate cards and save.

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Zero cash advance fees

Our cash advance rates are the same as our purchase rates. Period.

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No annual fee and no application fee

More fabulous free stuff.

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Low foreign-transaction fees

We only pass through Visa’s low conversion charges.

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Instant card issue

Stop by our branch, and get that sweet piece of plastic on the very same day.

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Enhanced security

Manage your cards: Use our free mobile app to enable and disable your care, in real time. Anytime, from anywhere.

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Rewards on every purchase

Like cash back! Plus earn 10,000 Bonus Points when you spend 1,000 in the first 90 days.1(Bonus Points offer good for new cards only, one per account.)

Balance Transfer FAQs

While we don’t claim to know everything, we do know a lot about balance transfers. Here are some common questions we get about the process.

Completing a balance transfer is a smart way to manage and repay your debt. Doing a balance transfer is most helpful when you need more time to pay off debt, and you want to avoid paying high interest rates. Doing so can save you on interest while allowing you to pay off your debts quicker. You’ll know it’s right for you when you look at the numbers to see how you’ll benefit.

You should review the details of the transfer along with the pros and cons to determine whether you should move forward. Hint: If you have high rate card balances and can move your debt for free, it’s usually the right choice.

No, doing a balance transfer should not affect your credit score. However, keep in mind that a hard inquiry will lead to a slight decrease (just a few points) in your credit score initially, but it should bounce back in no time.

When you complete a balance transfer, you pay off your existing debt by moving it to another credit card. The purpose is usually to reduce the interest you’re paying, so you can save on interest and pay off your debt sooner.

If you take advantage of a 0% balance transfer promo offer and you do not pay off the balance during the promo period, you could wind up paying the increased interest rate (from the date you did the balance transfer, on the original balance). That’s no good! Thankfully, at UMe, our balance transfer offer comes with a low, fixed rate and no balance transfer fee, so you don’t have to worry about a rate hike in the future.

They’re hard to find, but we’ve got one! We believe in helping you save without making you pay, that’s why our UMe Visa Platinum Credit Card has a $0 balance transfer fee. You’re welcome!

It depends on how your transfer(s) can be processed. Typically, it takes 3-5 business days, if we can make the payment electronically. However, if we have to mail a paper check, that can take up to 14 days.

You can transfer balances from credit cards, personal loans, student loans, and auto loans. Essentially, you can transfer almost anything with a balance as long as your credit line is sufficient enough to cover the balance.

Ready. Set. Go.

Once you’re ready to transfer your high rate card balances (for free!) and start saving — U can simply apply for a new UMe Visa Platinum Card or, if you already have a UMe Card, you can request a credit limit increase to cover the balance(s) you want to transfer.

Next, request the transfer of funds. You can do this online or over the phone. Yes, it’s as simple as that. Once we get your request, we will put the wheels in motion to help you get your balance(s) transferred.

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Disclosures

1 Bonus Points offer good for new cards only, one per account.