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.
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...
Two big factors to consider when deciding whether to use a balance transfer credit card: the 0% APR promotional period and the balance transfer fee.
Enter new card transfer fees: What is the minimum balance transfer fee: Enter the percentage fee you will be charged: * · Check to see if the card has a cap that limits the balance transfer fee. If so, enter balance transfer fee cap: Your balance transfer fee will be: $0.00 ; Enter new card details: Intro APR · Intro term · APR after intro: * · Annual fee: If you would like to pay more than your minimum payment, enter amount below: Minimum payment: Calculate
Key takeaways A balance transfer credit card is a type of card offering a 0 percent... credit card with high interest to your new card for interest-fee payments for a set period of time...
Balance transfer credit cards can be helpful tools for zapping debt, but they aren't a cure-all and require you to avoid certain pitfalls.
Balance Transfer Basics ; What is a balance transfer fee? ; How to manage debt with a balance transfer card ; How long does a balance transfer take? ; What is the limit for a balance transfer card? ; Everything you need to know about balance transfer checks
Take control of your finances and enjoy 0% interest on balance transfer fees with our Everyday Credit Card.