How does a balance transfer work on a credit card

how does a balance transfer work on a credit card

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If the terms of the help you pay down debt a type of credit card that is backed by a be considered a cash advance.

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How Do You Do a Balance Transfer?
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 lets you move the unpaid balance from one or more credit cards to a new credit card by using paper checks, online banking or. 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.
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With accounts that involve a new credit card, the terms will require the cardholder to complete the balance transfer within a specific time usually in the first two months to receive the promotional rate. Balance transfer details. Is a balance transfer right for me? Simple ways to add to your savings. Will a balance transfer hurt my credit score?