What Is Balance Transfer

Plus if you ve recently compared credit cards and discovered one that charges you less interest transferring debt from one credit card to the other could save you money.

What is balance transfer. This will help you pay off debt faster since more of your payments will go toward the principal balance each month instead of toward interest charges. A balance transfer is the process of transferring high interest debt from one or more credit cards to another card with a lower interest rate. A balance transfer is the transfer of part of the balance either of money or credit in an account to another account often held at another institution. It is most commonly used when describing a credit card balance transfer.

A balance transfer is a type of credit card transaction in which debt is moved from one account to another. This can be a good way to keep track of your balance and payments with everything in one place. A balance transfer is a process that lets you move debt or a balance from a credit card or loan to another credit card. For those paying down high interest debt such a move can save serious money on interest.

A balance transfer is when you pay off the balances on existing credit cards or loans by transferring them to another credit card account. It could save you money and help you simplify your payments but watch out for fees and other potential drawbacks. You can t pay off one credit card with another credit card but you can move a balance to another credit card with a balance transfer.