Skyline 301:

 

How Moving a Balance to a Low,

Fixed Rate Can Help You Save

 

February 2026

Dear Members,

Managing debt effectively is an important part of maintaining financial health. One strategy that can help reduce interest costs and support faster repayment is a balance transfer—moving a higher‑rate credit card balance to a card with a lower, more predictable rate.

This month’s Skyline 301 looks at how balance transfers work and why Skyline’s affordable rates with no balance transfer fee may be a cost‑effective option for many members.

What Is a Balance Transfer?

A balance transfer allows you to move an existing credit card or loan balance to another credit card or loan with more favorable terms—most commonly a lower APR. This can reduce the amount of interest you pay over time and help you work toward paying down your balance.

How a Balance Transfer Can Help

Illustrative Example Only

Let’s compare a typical high‑rate card to a lower‑rate balance transfer:

• Balance: $9,000
• Minimum payment: about $285
• Interest rate: 28% APR
• At that rate, paying only the minimum could take 20+ years, with over $46,000 in interest over time.
• Now compare transferring the same balance to Skyline at 12.90% APR on balance transfers:
• Keep paying about $285 per month
• Estimated payoff in about 3 years
• Approximately $1,440 in total interest

This scenario shows how a lower rate can help reduce interest costs and can help shorten your payoff timeline compared to staying at a higher rate.

Illustrative purposes only. Actual results vary based on payment amount, creditworthiness, and individual circumstances.

 

How to Apply for a Balance Transfer

1. Start Your Application HERE

Apply online and select “Visa” during the application process.

2. Submit Required Documents

You’ll typically be asked to provide:

• Recent pay stubs or proof of income
• A valid photo ID
• A statement from the account you want to transfer
• Additional documentation may be requested during review.

3. Approval and Processing

Once approved, Skyline will send payment directly to your current credit card issuer to complete the balance transfer. You will see it reflected on your next statement with that creditor.

4. After the Transfer

Your previous card may post a small residual interest amount (often under $10). Paying this amount keeps the account in good standing.

Tip: 💡 Always check mailed and electronic statements to ensure the transfer fully completes.

Why Consider Skyline’s Balance Transfer Option?

Features

• 9.90% APR on purchases (fixed)
• 12.90% APR on cash advances and balance transfers
• No balance transfer fee
• Easy, online application

Benefits

• Can help lower your interest costs
• Can help you pay off existing balances faster
• Can help simplify your monthly payments

Ready to Explore Your Options?

Applying takes only a few minutes, and our team is here to assist you with any questions along the way.

Disclosure

Subject to credit approval. The 9.90% Annual Percentage Rate (APR) applies to purchases and is a fixed rate. A 12.90% APR applies to cash advances and to balance transfers. Fees may apply; please refer to the Card Agreement and disclosures or contact Skyline Financial Federal Credit Union for full details. APR = Annual Percentage Rate. Rates shown are for illustrative purposes only and may vary based on creditworthiness. All accounts are subject to underwriting approval. Other restrictions may apply. Contact us for current rates and terms. We do business in accordance with the Equal Credit Opportunity Act. Federally insured by NCUA.