0
There are several advantages to doing a balance transfer. If you currently have a high interest rate on your current credit card it may be very beneficial to you to transfer the balance to a lower, sometimes 0%, interest rate. It depends on what kind of transfer fees are involved and how much you currently owe.
Add your answer:
Earn +20 pts
What is the purpose of a balance transfer offer?
The purpose of a balance transfer is to transfer balance. Many credit card companies allow the transfer of balance from one card to another. That is a balance transfer.
What is the benefit of doing a transfer balance on a credit card?
Doing a balance transfer on a credit card can have a number of benefits. One of the most popular reasons is to diversify one's debt to make it more manageable.
What is 0 balance transfer and what are the advantages of doing that?
O balance transfer, is when you take one credit card that you owe a large balance on, and another credit card that is empty with a lower rate, and transfer them to the other. It's so you can get a cheaper rate.
What does no balance transfer fees mean exactly?
An individual may wish to transfer the balance of one credit card onto another. This is generally done when an offer on the original credit card is ending, or if the APR is higher than the new card. Often when doing this, the new credit card company may charge a fee, generally 1-5% of the balance transfer. When it says no balance transfer fee, it means there is no extra charge for a balance transfer.
Can a wife transfer her credit card balance of a card that is?
She can transfer the balance onto a new card. It is known as a 'Balance Transfer'.
What is the purpose of a balance transfer offer?
The purpose of a balance transfer is to transfer balance. Many credit card companies allow the transfer of balance from one card to another. That is a balance transfer.
What is the benefit of doing a transfer balance on a credit card?
Doing a balance transfer on a credit card can have a number of benefits. One of the most popular reasons is to diversify one's debt to make it more manageable.
What is the purpose of a balance transfer credit card?
A balance transfer credit card is used to transfer your balance from one account (such as your personal account) to another account (such as a business account). This is the quick, hassle free way to move your money around.
What is 0 balance transfer and what are the advantages of doing that?
O balance transfer, is when you take one credit card that you owe a large balance on, and another credit card that is empty with a lower rate, and transfer them to the other. It's so you can get a cheaper rate.
What is the primary purpose of a transfer balance?
The primary purpose of a transfer transaction the moving of fund from one account to another. The accounts need not be at the same financial institution. The full balance of the account or just a partial amount can be transferred. Some financial institutions provide a service that automatically does a transfer from one account to another should one of the accounts balance reach a certain threshold.
What does no balance transfer fees mean exactly?
An individual may wish to transfer the balance of one credit card onto another. This is generally done when an offer on the original credit card is ending, or if the APR is higher than the new card. Often when doing this, the new credit card company may charge a fee, generally 1-5% of the balance transfer. When it says no balance transfer fee, it means there is no extra charge for a balance transfer.
What is the purpose of 0 credit card deals?
The purpose of the 0 credit card deals is to allow customers to pay 0% interest on balance transfers. This allows one to transfer the balance between cards and consolidate payments.
Can a wife transfer her credit card balance of a card that is?
She can transfer the balance onto a new card. It is known as a 'Balance Transfer'.
What is a balance transfer?
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
Do banks have automatic balance transfers?
Yes, often times banks do provide a balance transfer in a form of a credit card. Often, their is a high intrest for doing so.
What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
Is 0 percent apr balance transfer offer a trap set by credit card companies?
This offer is a trap. Once you have you begin paying off your balance, the one with the lowest APR balance will be paid off first, defeating the purpose of this low APR balance.
