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A credit card balance transfer is a popular option for tackling high-interest debt. A balance transfer credit card typically offers a 0-percent intro APR period that allows you to save on interest ...
But be forewarned: Just because you can apply and get approved for a balance transfer credit card doesn’t mean this is a good strategy for you. There are several times a balance transfer is a ...
Balance transfer cards allow you to move a credit card balance that may be subject to a high APR to a new account that features an introductory 0 percent APR offer. However, it’s important to ...
For example, if you have a card with a $5,000 balance transfer limit and a 3 percent balance transfer fee, the most you’ll be able to transfer is about $4,850. That transfer amount plus the 3 ...
Before pursuing a balance transfer credit card or transferring a balance, carefully assess your financial situation — including your ability to repay and qualify for the new card. While the 0 ...
If you get a high enough credit limit, a balance transfer can help your credit score by lowering your credit utilization ratio. For example, say you currently have two credit cards. Your first ...
3. Transfer the balance to the new credit card. While each credit card issuer’s balance transfer process is slightly different, it’s usually a simple process you can likely complete in a few ...
Credit card companies usually charge a balance transfer fee between 3% and 5% for this service, though you may be able to find a select number of cards that don’t charge a balance transfer fee.