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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
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...
What are my options if I am unable to pay off the balance during introductory period?
If you see that you won't be able to pay off the card balance in full by the end of the zero introductory period and want to prolong your 0% APR for another year or two, we would suggest you do a simple balance transfer by...
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 – 18 month BT offer (Citi is a Credit-Land.com advertising partner). It comes with 18 months of...
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