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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 ...
The Fifth Third Preferred Cash/Back Card trounces competitors with its 2% return rate—and its 0% intro APR offer incentivizes folks with credit card debt to transition.
So, let’s say you transfer $5,000 in high-interest credit card debt to a new balance transfer card that charges a 3 percent balance transfer fee. In this case, you would begin repayment on your ...
A credit card balance transfer is the transfer of the outstanding debt (the balance) in a credit card account to an account held at another credit card company. [1] This process is encouraged by most credit card issuers as a means to attract customers. The new bank/card issuer makes this arrangement attractive to consumers by offering incentives.
The U.S. Bank Visa Platinum Card is among the best balance transfer credit cards with 0% intro APR—and even rewards programs.
Interest rates vary widely. Some credit card loans are secured by real estate, and can be as low as 6 to 12% in the U.S. (2005). [citation needed] Typical credit cards have interest rates between 7 and 36% in the U.S., depending largely upon the bank's risk evaluation methods and the borrower's credit history.
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