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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 ...
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.
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 ...
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:
Almost all balance transfer credit cards charge a balance transfer fee, usually between 3 percent and 5 percent of the balance. Therefore, on a balance of $8,000, your balance transfer fee could ...
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 ...
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