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For example, if you have a card with a $5,000 balance transfer limit and a 3 percent balance transfer fee, the most you’ll be able to transfer is about $4,850.
Discover it Cash Back • Balance transfers ... limit your balance transfer offer to a window of 60 to 120 days after issuing your card. ... ends accrues interest at rates of 20% APR or higher ...
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 ...
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At that point, Card B’s balance is cleared out — but Card A has $1,000 added to its balance (plus any associated balance transfer fees) since you just used a balance transfer check to borrow ...
On a $5,000 transfer, the balance transfer fee will likely be $150 or $250. It's a fairly small price to pay to go from an interest rate of 20% or higher to 0%.
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