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A balance transfer involves moving debt from a high-interest credit card to one with a lower APR. Many credit card companies even offer a 0 percent APR promotion where balances transferred accrue ...
For example, if you transfer $6,000 in credit card debt to a card offering 0% intro APR for 18 months, you could pay off the full amount by making $333 monthly payments with no added interest charges.
Credit card debt forgiveness is highly unlikely, as few lenders offer this option. ... With balance transfer credit cards, you transfer your existing balances from high-interest cards to one new ...
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.
When I performed my balance transfer with the Citi Simplicity® Card* for $4,000, I had a balance transfer fee of $200 and an intro APR period of 21 months. So I divided $4,200 by 21 months and ...
How balance transfers work. Most credit card issuers offer a balance transfer program. Generally, they feature an introductory 0% APR on balance transfers that can last anywhere from six to 21 ...
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