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2. Assuming you can transfer all of your debt to one card. When transferring debt to a new balance transfer card, keep in mind you may not receive a high enough credit limit to wipe it out completely.
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 ...
Length of the intro APR offer. Many balance transfer cards offer zero interest for a year or more. The longer this temporary interest-free window lasts, the longer you can avoid costly credit card ...
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 ...
A few credit card issuers also offer balance transfer checks, which give you the option to complete your transfer with a paper check instead of requesting a balance transfer online or over the phone.
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 ...
Some cards charge an intro balance transfer fee of 3% for transfers made in the first 60 or 120 days. After that, the fee goes up to 5%. On $5,000 in debt, that's the difference between paying ...
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.