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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 ...
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 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 ...
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 ...
The best balance transfer credit cards tend to be lighter on ongoing perks since their biggest feature tends to be a generous intro APR offer on balance transfers. However, there are still reasons ...
In this example, you would pay a total of $5,946 over 20 months in order to pay off the card at its regular rate. On the other hand, transferring your debt to the balance transfer card allows you ...
HSBC credit cards include low-rate, low-fee, and rewards cards, with features including low-interest rates and annual fees, balance transfer offers, and an ability to earn HSBC Rewards points which can be redeemed for a range of products and services, or Qantas Points towards the Qantas Frequent Flyer program. [citation needed]
Starting balance. Monthly payments. Months to pay off card. Interest paid. Regular credit card. $5,000. $300. 20. $949. Balance transfer card with fee applied. $5,150