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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 ...
Many credit card issuers offer balance transfer credit cards with introductory 0 percent APR periods that allow you to pay down what you owe interest-free for periods of a year or longer — even ...
The most important reason to pursue a balance transfer credit card is to take advantage of a low or 0 percent introductory APR offer. By transferring your debt to this new card, you start saving ...
For balance transfer credit cards, the 0 percent intro APR applies to the debt you move over. In many cases, you’ll be charged the standard APR for purchases (unless the card offers an ...
Key takeaways. A balance transfer credit card can help you pay off existing debt by taking advantage of an introductory 0 percent APR. Decide whether it’s worthwhile to transfer the debt ...
You have a credit card with a $3,600 balance and 16% APR. ... If you were to transfer the balance to a 0% APR card with a 3% balance transfer fee and you increase your payments to $309, you’d ...
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