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You can transfer the balance of your current credit card to a card with lower rates or a zero interest introductory period. If your credit history is good to excellent, you can apply for the Citi Rewards+® Card. It is a point rewards credit card that will allow you to earn 2X ThankYou® Points at supermarkets and gas stations for the first $6,000 per year and then 1X points thereafter. All other purchases will earn 1X ThankYou® Points.

When you transfer your balance to the card, you will have a 0% intro APR on purchases and balance transfers for 15 months. After that the go-to APR will be 18.74% - 28.74% (Variable), based on your creditworthiness. The balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).

Please keep in mind that your old card, from which you transfer, will remain open and won't be close automatically when you transfer a balance. Therefore, you will need to continue paying all monthly fees on your old card to avoid penalties and accruing new debt. To close your old card, you need to contact the issuer directly and wait for an official confirmation that your account is closed.

tags : Balance Transfers Credit Cards

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.