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Most balance transfer cards charge balance transfer fees of 3 percent to 5 percent of your balance. So, if you transfer $5,000 to a balance transfer card, you could pay an extra $150 to $250 in fees.
3. Transfer the balance to the new credit card. While each credit card issuer’s balance transfer process is slightly different, it’s usually a simple process you can likely complete in a few ways:
The best balance transfer cards are typically available only to consumers with very good or excellent credit — or those with a FICO score of 740 or above. However, you may also be approved with ...
For example, if you were to transfer $10,000 in credit card debt to a balance transfer card, your fee might be 3 percent of your balance ($300) or 5 percent of your balance ($500) depending on the ...
A balance transfer is when you move your balance from one credit card to another offering a lower or 0% annual percentage rate (APR) for a set period of time, usually six months to up to two years ...
You can capitalize on the perks of a new card. The best balance transfer credit card you choose could offer more than a 0 percent intro balance transfer APR. It may also offer better overall ...
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