Credit Cards
Eighteen months to clear the balance
Move higher-rate debt to a 0% intro APR for 18 months on transfers, pay a 3% transfer fee once, and put every dollar after that against the principal.
What the intro period buys you
A balance transfer does not erase debt. It removes the interest that keeps the debt from shrinking.
0% intro APR for 18 months
The promotional rate applies to balances transferred within 60 days of opening the account, and runs a full 18 billing cycles.
One 3% fee, disclosed up front
Three percent of each amount transferred, added to the balance at the time of the transfer. There is no annual fee on top of it.
A clear payoff schedule
Divide the balance by 18 and you have a monthly payment that finishes the job before the promotional rate ends.
A worked example
Moving $6,000 from a card charging 22.99% and paying it off over 18 months.
At $344 a month the transferred balance and its fee are gone in month 18, before the standard rate ever applies. Pay less than that and whatever remains starts accruing at 14.99% to 22.99% variable in month 19.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
How a transfer works
Keep paying the old card until you see the balance land. Transfers take a few days to clear.
Apply and get a credit line
Your approved line sets the ceiling on what you can move. Most members are approved for between $2,000 and $15,000.
Request the transfer
Give us the other issuer, the account number, and the amount. You have 60 days from account opening to request the promotional rate.
Watch for it to post
Transfers usually settle in five to seven business days. Make the minimum payment on the old card until its balance actually reads zero.
Pay it down on schedule
Set an automatic payment for the balance divided by 18. Finishing inside the window is the entire point of the exercise.
Common questions
Can I transfer a balance from another Summit card?
No. Balances can only move to Summit from another financial institution. Moving debt between two of our own accounts would not change what you owe.
What happens if I still owe money in month 19?
Whatever remains starts accruing at your standard rate of 14.99% to 22.99% variable. Nothing is charged retroactively, so the interest you avoided during the intro period stays avoided.
Should I put new purchases on this card?
We would not. Purchases carry the standard APR from the start, and payments are applied to the highest-rate balance first only above the minimum. Use a different card for spending and keep this one focused.
Is the 3% fee worth paying?
On the $6,000 example the fee is $180 and the interest avoided is $1,088, so yes by a wide margin. The math turns unfavorable only if you would have cleared the balance in a couple of months anyway.
Will a transfer hurt my credit score?
The new account brings a hard inquiry and lowers your average account age briefly. Against that, your overall utilization usually falls, which tends to help within a few months.
Should I close the old card once it is paid?
Usually not right away. Closing it removes that credit line from your utilization calculation, which can push your score down. Leave it open with no balance unless it charges an annual fee.
Stop paying interest on last year
Apply online, request your transfer within 60 days, and give yourself 18 months of clear road.