Transfer My Balance

Consolidate balances and simplify your finances.

 

 

  • Save money
  • Get a lower interest rate
  • Manage your outstanding balances in one spot
  • Make a single payment vs. multiple payments
  • Consolidate as many outstanding balances as you like, within your credit limit

 

When you move your higher interest balances to your Jefferson Bank Credit Mastercard you get a low annual percentage rate at 3% for 12 months. All balance transfers must be completed by June 28, 2019.

What’s this mean for you?
That you can transfer any balance over to your Jefferson Bank Credit Mastercard; balances on store cards, medical charges, and even other credit cards. Not to mention any outstanding higher interest debt! So, what are you waiting for?

 

Transfer My Balance

 

Let’s run through a few scenarios.*


Scenario 1

Before: You transfer a store credit card balance of $3,000. Let’s say the APR on your store credit card is 15%. Over the next 12 months, you would pay about $450 in finance charges on your $3,000 card balance.
After: You transfer the $3,000 balance to your Central Bank Only Card. There’s a 4% balance transfer fee, but at a 3% APR for 12 months you’ll pay a total of only $210, including the balance transfer fee.
You save - $240

Scenario 2

Before: You transfer an existing credit card balance and medical bill totaling $5,000 for a recent accident. Let’s say the APR on your outstanding balance is 15%. Over the next 12 months, you would pay about $750 in finance charges on your $5,000 card balance.
After: You transfer the $5,000 balance to your Central Bank Only Card. There’s a 4% balance transfer fee, but at a 3% APR for 12 months you’ll pay a total of only $350, including the balance transfer fee.
You save - $400

Scenario 3

Before: You transfer an existing credit card balance and outstanding tuition balance of totaling $7,500. Let’s say the APR on your outstanding balance is 15%. Over the next 12 months, you would pay about $1,125 in finance charges on your $7,500 balance.
After: You transfer the $7,500 balance to your Central Bank Only Card. There’s a 4% balance transfer fee, but at a 3% APR for 12 months you’ll pay a total of only $525, including the balance transfer fee.
You save - $600