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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.
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 $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...
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 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.