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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.
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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'.
