Does the new card have a regular interest rate that’s higher... If not, that can make transferring larger balances worthwhile. Also, check the credit limit on your new card before you...
: Current balance, Card 1: $3,000, Card 2: $1,500, Card 3: $1,000 ; : Credit limit, Card 1: $5,000, Card 2: $5,000, Card 3: $3,000 ; : APR, Card 1: 24%, Card 2: 18%, Card 3: 20%
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Balance transfers can affect several factors that contribute to your credit score. ; Balance transfers can help your credit if you use them to pay down balances and reduce the percentage of available credit you’re using. ; Balance transfers can hurt your credit if you open too many new accounts at once or close older accounts after opening a new one.
How do balance transfers work? · What to consider before deciding on a balance transfer · How much can you transfer? · 5 tips for smart balance transfers
Citi Simplicity® Card ; Wells Fargo Reflect® Card ; Citi® Diamond Preferred® Card ; Discover it® Chrome ; Citi Double Cash® Card
If you have debt spread across a number of credit cards, or even just a high amount of debt on a single card with a high interest rate, a balance transfer might be worth considering. Balance transfers enable you to shift debt from one account to another, ideally with a lower interest rate. You’ll usually pay a fee — typically 3% to 5% of the transferred balance — but if the transfer is worthwhile, your interest savings will outweigh the fee. Before you pursue a balance transfer, consider how it may affect your credit score. The effects of ...
Credit card 1 ; Card name · Estimated credit card balance · Interest rate of credit card(s) · Typical monthly payment
Citi Simplicity® Card ; Annual Fee : $0, Regular APR : 18.74% – 29.49% Variable, Intro Bonus : N/A, Credit Score : Good – Excellent
Do Balance Transfers Hurt Your Credit? ; How Long Do Balance Transfers Take? ; How to Transfer Your Credit Card Balance ; Applying for Balance Transfer Credit Cards with Fair Credit ; Is a Balance Transfer a Good Idea? ; How Do Balance Transfers Work? ; Calculate Balance Transfer Savings ; Credit Card Balance Transfers 101 ; Should you get a credit card with no balance transfer fee?