2023 Balance Transfer

Balance Transfers

A balance transfer is a standard tool in money management with the simple goal of helping you save money. All you have to do is request to transfer your balance from your current credit card to an existing Democracy FCU VISA® Rewards or Classic card with a lower interest rate. In essence, you're using one credit card to pay off another credit card by getting a lower interest rate.

How it Works - Using Online Banking or a Fillable Form

In Online Banking

1. Log in to your Online Banking account and navigate to Account Services > Card Controls.
2. Hover your mouse over the Democracy FCU card you’d like to transfer your balance to and select Manage Card.
3. Select the icon for a Balance Transfer from the list of card control options.
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4. Enter the details for your old card you’re transferring your balance from.
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5. Indicate the amount you wish to transfer from your old card to your existing Democracy FCU Visa® Rewards or Classic card. Typically, balance transfers have caps that are generally the amount of your credit limit.
6. Agree to the disclosure and submit.
7. Democracy FCU will pay your existing credit card company on your behalf and the balance will be transferred to your Democracy FCU card (We don't have a transfer fee!)
8. Continue to make payments to your old credit card company until you receive a notification that the balance has been transferred. 
9. Follow up with us to make sure the balance was transferred successfully.
10. Begin paying your Democracy FCU card by the due date and start enjoying a lower APR*!

Fillable Form

1. Provide the payee information and account number for the existing credit card to Democracy FCU.
2. Indicate the amount you wish to transfer from the old card to the existing Democracy FCU Visa® Rewards or Classic card. Typically, balance transfers have caps that are generally the amount of your credit limit.
3. Email your completed form to finance@democracyfcu.org
4. Democracy FCU will pay your existing credit card company on your behalf and the balance will be transferred to your Democracy FCU card (We don't have a transfer fee!)
5. Continue to make payments to your old credit card company until you receive a notification that the balance has been transferred. 
6. Follow up with us to make sure the balance was transferred successfully.
7. Begin paying your Democracy FCU card by the due date and start enjoying a lower APR*!

Fillable Form

Email Your Balance Transfer Form

*APR=Annual Percentage Rate. See Credit Card Agreement and Disclosure that was provided to you at the time your credit card was opened. You may call our Member Call Center at 202-488-5400 to verify your Balance Transfer rate. This offer applies to existing Democracy FCU Visa® Rewards and Classic cardholders whose cards were opened on or before December 31, 2022. Offer ends February 28, 2023. Certain restrictions apply.