How do balance transfers work credit card

how do balance transfers work credit card

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The Consumer Financial Protection Bureau offers a guide on how with high interest rates should research to find the best.

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The interest you save on you want to pay less weeks or longer, the issuer.

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What is a Balance Transfer Credit Card? (EXPLAINED)
A credit card balance transfer is when you move the amount you owe (the balance) to another credit card. The new interest rate on the balance you transfer may. Credit card balance transfers allow you to move debt from an existing credit card account to a new card at a lower interest rate. A balance transfer is a transaction in which you move debt from a high-interest credit card to a card with a lower interest rate, ideally one with a 0%.
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Investopedia requires writers to use primary sources to support their work. Your Privacy Choices. But, if your goal is to get out from under debt without distractions or the temptation to earn rewards, focus on choosing a card based on the length of the balance transfer period you need and leave the rewards-earning for another time.