Balance Transfers and Interest on Purchases
If you usually pay for purchases in full each month to avoid interest, transferring a balance will change that. You will be charged interest on purchases unless you choose to pay your entire balance in full, including any transferred balances, by the first payment due date.
Interest and Fee Information
- APR Balance Transfers: Your current purchase annual percentage rate will apply to your balance transfer. See our disclosure for detail.
- Use by Date: Transfers can be completed any time.
- Fee: The standard balance transfer fee is $5.00 or 5% of the amount of each balance transfer, whichever is greater.
- How to Avoid Paying Interest: Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.
We may decline any transfer or process any transfer for less than the amount requested if your account is not in good standing or has insufficient credit available at the time transfers are presented for payment. See Additional Information below for more details.
Additional Information (See Cardmember Agreement for details).
Q. Can I use a Balance Transfer check to pay another Members 1st account?
A. No, you may not use a Balance Transfer to pay any Members 1st accounts.
Q. How are my payments applied after I transfer a balance?
A. Each billing period, we will apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs* before balances with lower APRs* as of the date we credit your payment. The minimum payment requirement can cause promotional balances to be paid in full before the end of the promotional period. See your Cardmember Agreement for details.
Q. What happens if the balances I transferred exceed my credit line?
A. We will reduce the amount of a balance transfer request if you don't have enough credit. However, monthly interest charges, balance transfer or cash fees, or unaccounted for transactions may cause you to exceed your credit line.
Q. What happens if I have a remaining balance after my balance transfer term?
A. The prevailing APR will be applied to any outstanding balances. You will not be charged deferred interest.
Q. Do I earn rewards on Balance Transfers?
A. Balance Transfers do not earn any rewards.
Q. Can I avoid interest on new purchases if I transfer a balance?
A. If you transfer a balance with this offer, interest will be charged on purchases made with your credit card, unless you pay the entire balance (including any transferred balances) in full each month by the payment due date.
Q. Are there any limitations or details I should know about this balance transfer offer?
A. Your account must be in good standing and have sufficient available credit to take advantage of balance transfer offers. If you close your account or it is closed by Members 1st due to default under the Cardmember Agreement or for any other reason during the promotional period, you may not be able to take advantage of this offer by phone or online, and we may decline to authorize a balance transfer check when presented for payment. If your account is currently enrolled in a special program or is placed into one during the term of the offer, you will receive the benefit of the lower rate while the special program is in effect. This includes, if applicable, any lower rates as authorized under the Servicemembers Civil Relief Act.
