English Noun balance transfer ( plural balance transfers ) A transferal of the current amount owing on one credit card to another one (ideally one charging a lower rate of interest)
A balance transfer is the transfer of (part of) the balance (either of money or credit) in an account to another account, often held at another institution. It is most commonly used when describing a credit card balance transfer. How it works Balance transfers allow people to move their ba...
A credit card issuer charges a balance transfer fee to transfer a balance from another creditor. Learn the pros and cons of balance transfers.
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.
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.
Do the math before you assume that transferring your credit card balance to a lower rate card will save money. It could help—or it could cost you.
Transfer a balance to your Wells Fargo Credit Card and help your money go further.
A balance transfer can save you money by moving your debt from a high-interest credit card to one with a lower APR. Learn how they work, and find a card that fits your needs.
Understand how balance transfers work and how they can be an effective money-management strategy that can help you save.