Want to feel good about reducing your credit card balance?
A balance transfer lets you use a credit card to pay debt on another credit card. The new issuer pays off the debt on your old card, and the balance is moved to the new card, which usually has a much lower interest rate for a limited promotional period.
Contact Us to learn more and apply for a new card today!
1. Pay Off Debt Faster
The aim of a balance transfer is to support you in your journey toward becoming debt-free by minimizing (or eliminating) the amount you pay in interest.
2. Simplify Your payments
If you have outstanding balances on multiple credit cards, consolidating your debt onto a single card reduces the number of payments to manage. This approach could also help eliminate extra annual fees that would be associated with multiple cards.
3. Improve Your Financial Health
Although a credit inquiry is required when apply for a new credit card, expediting the repayment of your debt can have a positive impact on your credit score in the long term. Balance transfers can assist in reducing your overall debt, subsequently increasing the available credit on your card. Both of these outcomes can be advantageous for your credit rating.
- Assess your financial situation – It’s important to determine whether a Balance Transfer is right for by first assessing your debt, reviewing credit requirements, and understanding the terms of a balance transfer. You can visit your local Westoba branch for advice from one of our financial advisors.
- Create a plan – Determine the monthly payment you’re able to make and how many months it will take to pay off your balance. Aim to pay-off as much of your debt as possible before the promotional period ends to save money on interest fees.
- Apply for a credit card – Take into consideration interest rates, annual fees, and rewards points when choosing the card to transfer to. A financial advisor can help you find the right card for your needs.
- Activate your card and Transfer your balance – You can do both steps in-branch, by calling cardholder services, or on through CardWise Mobile on your mobile device or CardWise Online on your computer. A minimum transfer of $500.00 is required.
- Follow your payment plan and benefit – With the right planning, budgeting, and saving on interest, you will be able to reduce your outstanding debt significantly and possibly boost your credit score.
A balance transfer card is a great way to repay outstanding debt by avoiding interest charges during the promotional period. Here is a comparison of how much you can save on interest by taking advantage of our Balance Transfer offer.
| Total Interest and Fees Paid in 9 Months | |||
| Initial Outstanding Balance | Other Issuers:
20.99% APR + No Transfer Fee* |
Our Cards:
0% APR + 2% Transfer Fee* |
Savings |
| $5,000 | $767.86 | $100.00 | $667.86 |
| $3,000 | $460.72 | $60.00 | $400.72 |
| $1,000 | $153.57 | $20.00 | $133.57 |
*Assuming cardholder makes a monthly payment of 2% of each month’s balance
How to take advantage of this offer
- Log on to MyCardInfo
- Select Account Services, then Balance Transfer
- Follow the prompts to initiate your balance transfer
You can also call us at 1-877-WESTOBA or visit your local branch to submit your application. To view which cards are eligible for this offer, please refer to the full Terms and Conditions.
Remember that we never charge you any fees for balance transfers to your credit union or financial institution’s credit card. After all, your financial wellbeing is our priority.
