While just about any general credit card will allow you to transfer your balance, some cards are better for this than others. If you find the right card, transferring your balance could potentially save you a lot of money.
First, make sure the new card has a balance transfer option. If it does, check if it charges a fee for transfers. The most you’ll usually be charged is 3%. That doesn’t sound like much, but it can add up fast. There are plenty of cards that don’t charge a transfer fee.
Another considering is the card’s APR. Many cards offer a 0% introductory APR on balance transfers. This is a great way to cut down on your costs and to have a little more cash on hand to pay off your card balance. The introductory rates don’t last forever, though. So check out the standard interest rate for the card before transferring. You don’t want to be stuck with a high APR if you can help it.
BALANCE TRANSFER CREDIT CARDS:
Intro APR on Balance Transfer: 0% (18 months)
Ongoing APR on Balance Transfer: See terms
Intro APR on Balance Transfer: 0%* 21 months on Balance Transfers*
Ongoing APR on Balance Transfer: 14.74% - 24.74%* (Variable)
Intro APR on Balance Transfer: 0% 18 months on Balance Transfers*
Ongoing APR on Balance Transfer: 15.24% - 25.24%* (Variable)