Transfer

I am currently a freshman at a Virginia university, and I am looking to transfer to UVA for the fall of 2016.
This past semester was a bit rough for me. I only took 12 credits because I dropped econ the first week of school.
I received 3 B+'s and 1 C in calculus, which brings my GPA to a 2.975, but I don’t think much of it because there are only 4 classes averaged together. Will this hurt my chances? I hope to do well next semester and bring up my GPA.

The question you need to ask yourself is whether your second semester grades will be available before your application is considered. If the deadline for application is before your second semester is finished, then only your first semester grades will be used. This makes your admission less likely. If you try and transfer next year you will have 3 semesters of grades to show and you can demonstrate that the first semester was an aberration.