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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.
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Key takeaways. When you transfer a balance to a new card, the old card’s balance will read as $0 unless you have pending purchases or are unable to transfer the full amount.
Balance transfers from one credit card to another can be a good way to save money in interest charges while paying off a credit card balance. However, if a consumer is using balance transfers to ...
Balance transfer checks are a way to transfer credit card balances from one issuer to another with a lower interest rate. ... You make your balance transfer check from Card A out for $1,000 and ...
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