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Who can benefit from 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.
The concept of a balance transfer is meant to benefit the individual and the bank. Giving consumers a benefit of a better interest rate and giving the bank an opportunity to acquire new customers.
questions RELATED TO THIS TOPIC
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 you explain the balance transfer fee a little better to me?
A balance transfer is a type of credit card transaction in which debt is moved from one credit card account to another, usually one with a 0% introductory APR offer on balance transfers. A balance transfer fee, in its turn, is...
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...
I am thinking of getting the Chase Freedom unlimited credit card for balance transfer. The fact is: it offers only 12 months of 0% period. How can I make it longer?
There is no way to make Chase extend your 0% intro period on balance transfers. But you can simply choose a credit card with better terms. You may find many credit cards with...
I was interested in Bankamericard credit card but did't like that it has no rewards... Are there any cards with 0% on balance transfers and a rewards program?
You may find credit cards with 0% intro APR on balance transfers and rewards. For example, consider
Citi Double Cash® Card (Citi is a Credit-Land.com advertising partner). It comes with 18 months of...
Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.