Learn what a balance transfer is, how a balance transfer works, and how to do a credit card balance transfer.
Credit cards that don’t charge a balance transfer fee are rare, but you can still find a few on the market today.
Save money on credit card interest · If you transfer a balance from a high-interest credit card to a Discover Card with an introductory 0% APR balance transfer offer, you can use the money you save on interest charges to pay down your debt. Pay down your current credit card debt · When you consolidate all your higher-rate credit card debt--or other outstanding debts--with a Discover balance transfer offer, you end up with a single monthly payment and may reduce how much you pay in interest i...
A balance transfer moves high-interest debt to another card, usually one with a 0% intro APR, so you save on interest while paying off debt.
With the right approach, keeping a credit card open after completing a balance transfer can benefit your credit score in the long run.
Key takeaways A balance transfer credit card is a type of card offering a 0 percent introductory APR period during which you can pay off your debt faster without interest. With a balance...
You can take advantage of promotional interest rates to transfer a credit card's balance to a new credit card. Balance transfers give you the opportunity to pay down debt.
Learn how balance transfers work to move credit card debt to a new card with a 0% or low introductory interest rate and if a balance transfer is right for you.
Imagine you have $5,000, $10,000, or any other amount in credit card debt, and your current card charges a high variable APR. Moving that debt to a new credit card with 0% APR can help you avoid interest payments while you pay off the debt. Here's how. First, you'll want to choose a new card offer from the best balance transfer credit cards available today. Note that balance transfer offers tend to last for 12 to 21 months, and you have to pay balance transfer fees (typically 3% or 5% of the deb...
It can be difficult to find a balance transfer credit card for bad credit, but there are some options and other ways to consolidate and pay down your debt.