Balance Transfers Questions - Page 8


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User Questions & Answers about Balance Transfers

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Here you can ask or find questions about balance transfers. All questions about balance transfer credit cards, intro APR, balance transfer fees and other related questions are gathered here at your convenience. Or feel free to address your question to out experts.

Recently Answered Questions:

I have a credit card and I made late payments. Now the interest is too high. My score is 671. I have 4 accounts with this bank, but they rejected my application for another credit card with a low interest rate. What can I do?

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You should consider a balance transfer to a new credit card. These cards have an introductory period, up to 18 months, during which you don’t pay any interest on balance transfers, purchases or both. You can transfer the balance from your high interest credit card and pay it off during the zero interest… Continue reading

I have four cards and I would like to transfer the balances to save on interest, but they are not all major credit card companies. Can I still transfer my balances?

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Yes, you should be able to transfer all of your balances to almost any credit card that offers a balance transfer feature. But you cannot transfer to the same bank or issuer. So look for a bank you don’t already have a balance with. Make sure the overall balance you are going to transfer does… Continue reading

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.

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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 […] Continue reading

I have a balance of $5,000 on my credit card, at an APR of 12.99%. I know my APR is not that high compared to some cards, but those zero balance transfer offers I keep getting in the mail are awfully tempting. My question: does it really make sense for me to pay a three-percent balance transfer fee to transfer this balance to a card with lower APR?

Answered on

Paying a balance transfer fee might seem unnecessary or even like a rip-off, so I understand your concern, but if you take a moment to do the math, the answer will become clear. At three percent, which is the typical fee, by the way, the fee to transfer your $5,000 balance will be $150. Now, […] Continue reading

Which credit card do you want?

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Life these days demands that each individual own at least one credit card for ease of financial transactions. Credit cards offer benefits of convenience, safety, time-efficiency and reliability. No wonder all kinds of retail stores, malls and shops accept them readily and to serve this growing credit… Continue reading

I have a really big outstanding balance on one of my credit cards. Should I transfer it over to one of those 0% interest cards I keep seeing advertised?

Answered on

The main incentive that a 0% balance transfer credit card offers is that your balance won’t accrue any interest for a specified period of time, allowing all of the payments you make during that time to be put entirely towards the elimination of your debt. This promotional introductory period can last… Continue reading

Why shouldn’t I cancel my old card after transferring a balance?

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First off, you should understand that canceling a card won’t do anything to help improve your credit score. In fact, it may even hurt it instead. Because an important component in determining an individual’s credit score is their debt to available credit ratio, canceling a card can lower the amount of… Continue reading

What I should know about balance transfers?

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When you are first starting to embrace credit cards, balance transfers can come as something of a shock. There’s no reason to be fearful of the term, all it means is that you are able to take the balance from an existing credit card (let’s call it Card A) onto a new account (Card B). […] Continue reading

What is the significance of doing the zero balance transfers?

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Transferring balances from one credit card to another is known as balance transfer and this is done when there are dues or outstanding balances on the existing card. Balance transfers are normally done from high APR cards to 0% APR cards. There are a number of banks that offer these zero balance… Continue reading

How can you use balance transfers effectively?

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Most of us use credit cards and it has become a way of life. So, it has become inevitable for card issuers to add new features to make the cards sound more user-friendly. Credit cards come with a lot of features and consumers are constantly looking forward to availing benefits out of their cards. One… Continue reading

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Intro APR on Balance Transfer: 0% 15 months on Balance Transfers

Ongoing APR on Balance Transfer: 15.49% - 25.49% (Variable)

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

Excellent, Good Credit

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

Ongoing APR on Balance Transfer: Variable APR of 14.99% - 24.99% will apply after the Introductory Period

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

Intro APR on Balance Transfer: 0% 18 months on Balance Transfers*

Ongoing APR on Balance Transfer: 15.99% - 25.99% (Variable)

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

Excellent, Good Credit
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Balance Transfer: Save on Average $1,400

May 08, 2015

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