How long does a balance transfer usually take to complete?

[Anonymous]

I've transferred my balance frommy Cap One QS to my newly opened Chase Slate due to the promor offer. Does anyone have any experience as to how long this takes to complete? Mainly, when will the balance be out of my Cap One account?

[-NewGuy-]

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@Anonymous wrote:

I've transferred my balance frommy Cap One QS to my newly opened Chase Slate due to the promor offer. Does anyone have any experience as to how long this takes to complete? Mainly, when will the balance be out of my Cap One account?

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I asked Chase this about my Slate earlier today. It depends how they get the money to the other party. If it's electronic, they said five to seven business days. If it's paper, 2-3 weeks.

[Anonymous]

Would there, theoretically,  be a time where the balance is transferred off of one card, resulting in a zero balance and the new card  not showing up on credit report yet? 

[jamesdwi]

usually completes the week after your minimum payment is due. 

[Anonymous]

Ive done balance a transfer with Chase it took a week and a half but they took the available credit right away

Ive done balance transfers with Barclarys it took 7 days they also took the available credit right away but it wasnt until 7 days later I saw the credit to my other cards

[takeshi74]

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@Anonymous wrote:

Would there, theoretically,  be a time where the balance is transferred off of one card, resulting in a zero balance and the new card  not showing up on credit report yet? 

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Sure, it's possible.  All depends on when the BT takes place and the reporting dates for the accounts.  Depending on timing it's also possible to have the amount reporting on both accounts.

[Anonymous]

Thanks guys! I'll check in a week or two. I want to request a CLI for my Cap One card, it had been declined lately due to "average payment too low compared to balance". Even though I had an average of $210 over the last 12 months compared to a $1400 balance. Now it will be a near zero balance hopefully they show me some luv!