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Don’t forget to factor your balance transfer fee into the new balance on your card. This fee can be anywhere from 3 percent to 5 percent of your transferred balance, depending on the card.
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 months. Sometimes these cards ...
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 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 ...
Money tip: You can’t always transfer up to your full credit limit. Some issuers will cap the amount of your credit limit you can use for balance transfers. Let’s consider this example: Credit ...
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 ...
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
Key takeaways. Transferring your credit card balance to a new card that offers a 0% introductory APR can help you to pay off your debt while reducing the interest you accrue.