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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 ...
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 ...
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.
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 benefits — possibly including cash back, rewards ...
While many credit card issuers offer 0% interest balance transfers, some issuers also charge a transfer fee, which could range from 0–5%. As a result, consumers should evaluate the balance transfer interest rate during the promotional period, the length of the promotional period, and the balance transfer fee when deciding on which balance ...
Most balance transfer checks and balance transfer credit cards come with balance transfer fees — but not all. This means you’ll pay a fee for every balance you transfer, often in the form of a ...
Key takeaways. A balance transfer fee is what credit card issuers charge when you transfer debt from one credit card to another. Balance transfer fees are typically 3 percent or 5 percent of the ...
That way, you earn rewards on your big purchase and take advantage of an intro 0-percent APR period to pay it off interest-free. Deciding if a balance transfer is the right move depends on your ...