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A balance transfer is a good way to eliminate existing credit card debt over a set number of months, usually at a lower interest rate. ... Some balance transfer cards have intro APR offers that ...
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 ...
A balance transfer credit card can offer you many months to pay off high-interest debt in the form of a 0% introductory APR. ... It might be possible to transfer your existing balance to another 0 ...
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.
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.
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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