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When does one opt for a balance transfer?
Answered on May 6, 2010
Updated on May 6, 2010
The content is accurate at the time of publication and is subject to change.
Consumers ideally choose or opt for a balance transfer on their credit cards. It is seen that most of the balance transfers that happen shows a higher number for consumers with 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.
questions RELATED TO THIS TOPIC
I have several credit cards with high balances and high interest rates. How many balances am I able to transfer over to One Card in which card would be the best one for me?
As a rule, you can transfer up to the full credit limit onto your new credit card. However, some issuers may set different limits for balance transfers. For example, the transfer limit may be capped at 75% of your overall credit limit. To find out...
I have $5K in credit card debt between two cards and need advice on how to get lower interest rate on credit card? I'm wondering if I should move that to a new card with a zero APR offer and pay the transfer costs?
First, you might try to contact your existing credit card customer service to request a lower APR. However, not all banks allow customer-initiated requests to get lower APR on a credit card, but they do review accounts periodically for such a...
Can I transfer a balance to the SoFi credit card from another credit card?
In general, yes, the SoFi credit card issued by Goldman Sachs supports balance transfers. But it has no 0% Intro APR period so you won't have an opportunity to save on it. Thus, we would recommend you consider the...
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