BALANCE TRANSFERS

Carrying a Credit Card Balance?

Transfer My Balance Benefits

why transfer to skyla?

the benefits of a balance transfer

it's free

Yep - you read that right! We never charge a balance transfer fee (or annual fee). It's a totally free service to you!

it's stress-free

Consolidating your credit cards can bring you peace of mind since you'll stop juggling multiple due dates, interest rates, and cards.

We Offer 0% APR^{^1,2}

Transfer your non-Skyla credit card balance to a new Visa Platinum credit card and enjoy 0% APR^1,2 for the first 12 months.

Transfer My Balance How Does It Work?

so.... how does it work?

balance transfers made simple

We get it—balance transfers can be a bit confusing! That’s why we’ve put together a simple comparison for members Clara and Luna as they open their new Skyla credit cards. Take a look and see how a balance transfer could work for you!

Swipe for more

skyla credit card

Platinum

Platinum Rewards

balance transferred from another credit card

$1,000

interest paid on transferred balance

0% APR^1,2
first 12-months

16.65% APR³

balance transfer fee

When Should I Do It?

think it through

considerations for why you should do a balance transfer

Improve Credit Score

By reducing your credit utilization ratio through a balance transfer, you can potentially improve your credit score.

Breathe Easier with One Bill

Having one consolidated bill instead of multiple can reduce stress and make budgeting easier.

more time to knock down your balance

When you open a new Skyla Visa Platinum credit card - you'll unlock 0% APR¹ for the first 12-months, giving you more time to knock down your balance without accruing additional interest!

... but maybe not

considerations for why you should not do a balance transfer

thinking it removes your debt

Balance transfer does not eliminate your debt. You still have to pay it - you just get a little more time to do so.

Temptation to Spend More

With a shiny new card and a seemingly clean slate, the temptation to spend more can be hard to resist.

Potential for Debt Shuffling

Without a clear plan, you might end up just moving your debt around rather than paying it off, which can lead to a cycle of debt.

double-bubble-calculator-note-credit-cards

GOOD RULE OF THUMB...

It’s important to note that balance transfers may not be suitable for every cardholder! Before making a decision, it is crucial to thoroughly consider and analyze your individual circumstances.

bye-bye stress &

hello to more savings!

If you're tired of multiple due dates, varying interest rates, or just the number of loans you're juggling? Simply move your credit card debt from one (or multiple) credit card onto your Skyla credit card! Here's how...

transfer your balance

Log in to Digital Banking and select Balance Transfers under the Card Management tab and complete the quick form.

pay off your other card

Once submitted, we’ll send a check for the amount of your balance transfer to that credit card lender.

create your payment plan

Now that your credit card balances are all in one spot, craft your pay-off payment plan, keeping your money goals within reach.

Open Your Card Start a Transfer

debt resources

making your plan

Ready to tackle your debt? Making plans to eliminate or consolidate debt is a big step towards financial freedom - and you can totally get there!

Download the Debt Paydown template to create a loan payment plan that's right for you. View your monthly payments in one quick glance, keep yourself on track, and watch your balances shrink.

Learn More

LEARNING & GUIDANCE

learn what’s possible

Looking for more? Take a peek at our learning center to help enrich your financial awareness.

ok, so here's the fine print

Let's Get Started

how to open your new card

(don't forget about that super helpful, interest-saving 0% APR¹ on purchases and balance transfers for the first 12 months with a new Vsa Platinum credit card!)

I Have a Skyla Account

Carrying a Credit Card Balance?

the benefits of a balance transfer

it's free

it's stress-free

We Offer 0% APR^{^1,2}

balance transfers made simple

considerations for why you should do a balance transfer

Improve Credit Score

Breathe Easier with One Bill

more time to knock down your balance

considerations for why you should not do a balance transfer

thinking it removes your debt

Temptation to Spend More

Potential for Debt Shuffling

hello to more savings!

transfer your balance

pay off your other card

create your payment plan

making your plan

learn what’s possible

When Should I Do a Balance Transfer?

Cash Advance vs. Balance Transfer

How Should I Track My Credit Card Spending?

ok, so here's the fine print

how to open your new card

Carrying a Credit Card Balance?

the benefits of a balance transfer

it's free

it's stress-free

We Offer 0% APR1,2

balance transfers made simple

considerations for why you should do a balance transfer

Improve Credit Score

Breathe Easier with One Bill

more time to knock down your balance

considerations for why you should not do a balance transfer

thinking it removes your debt

Temptation to Spend More

Potential for Debt Shuffling

hello to more savings!

transfer your balance

pay off your other card

create your payment plan

making your plan

learn what’s possible

When Should I Do a Balance Transfer?

Cash Advance vs. Balance Transfer

How Should I Track My Credit Card Spending?

ok, so here's the fine print

how to open your new card

We Offer 0% APR^{^1,2}