Hi, I am trying to find a credit card with a high... - Balance Transfers Questions


Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Balance Transfers » Hi, I am trying to find a credit card with a high credit limit only to transfer two balances...

Hi, I am trying to find a credit card with a high credit limit only to transfer two balances from other cards that I have that have high interest rates. I don’t really want to apply for another card with the risk of not being able to transfer my complete two balances I have. I’m just not sure what the best thing for me to do would be.

Answered on | Updated on August 8th, 2012
The content is accurate at the time of publication and is subject to change.

It seems that you want to transfer all your existing balances onto one credit card and close your old credit cards…  Well it is good that you want to get rid of your debt but closing your old accounts may hurt your credit score. So think properly before doing it.

Anyway, the best way to get rid of your debt is to apply for a balance transfer credit card (and it will be better if it has a long 0% intro period). You can do this if you have good-to-excellent credit history.

If you meet this requirement you can be approved for a balance transfer credit card. However you can’t know about your credit limit beforehand. Usually credit limit is determined by income, employment, and credit score, and for those who have a good-to-excellent credit starts somewhere from $3,000.

You shouldn’t worry if you are not able to transfer your entire debt to a new card you will save money anyway. In most cases nominal balance transfer fee is nothing in comparison with current high interest rate. Even transferring a part of your debt and paying it off will save you a significant sum of money rather than not transferring at all. So think on it and do some calculations.

To know how much you can save on balance transfer use our tool – a balance transfer calculator. It will show you the optimal monthly payments and the amount of your savings.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Intro APR on Balance Transfer: 0% 12 months on Balance Transfers

Ongoing APR on Balance Transfer: 15.74% - 25.74% (Variable)

Balance Transfer Fee: 3% of each balance transfer; $5 minimum.

Excellent, Good Credit

Intro APR on Balance Transfer: 0% (first 12 billing cycles following each balance transfer that posts to your account within 45 days of account opening)

Ongoing APR on Balance Transfer: 18.24%, 22.24% or 25.24% variable based on your creditworthiness

Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater

Good/Excellent Credit
See Rates & Fees

Intro APR on Balance Transfer: 0% Intro APR for 12 months

Ongoing APR on Balance Transfer: Variable APR of 15.24%, 19.24% or 25.24%

Balance Transfer Fee: Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check

Good, Excellent Credit
See Rates & Fees

Other Questions in
Balance Transfers

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!