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Glossary Of Terms
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Our Glossary features an extensive collection
of credit card related terms. If you cannot find a term you're looking
for, please e-mail us at glossary@credit-land.com.
We will respond to you with full explanation of the term. Upon further
review, we'll consider adding it to our website. |
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Balance Transfer |
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Transfer of your debt from one credit card or a loan onto another credit card. Many credit card issuers offer introductory interest rates (introductory APRs) that are much lower than the standard interest rates. Consumers may take advantage of these lower rates to transfer balances from their higher interest credit cards to the new, lower interest credit cards to save money on interest charges. You can find a credit card with Introductory APR for balance transfers as low as 0% for up to 12 months or 3.99% until the whole balance is paid off.
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Credit cards best for balance transfers