What is a Balance Transfer?

Answer At the end of 2008, Americans owed a total of $972.73 billion to credit-card companies, according to In some cases, consumers attempt to reduce credit-card debt through balance tra... Read More »

Top Q&A For: What is a Balance Transfer

When is a 0% balance transfer not a free balance transfer rate?

A 0 percent balance transfer offer from a credit card company is not always free. At the very least, many companies charge fees for the transfer equal to a percentage of the amount transferred. Oft... Read More »

Does my credit card balance increase with a balance transfer?

If the card you are transferring your balances to has a transfer fee, your balance on the new card will be higher than it was on the old card. Transfer fees should be considered alongside any poten... Read More »

What is a balance-transfer APR?

Balance-transfer APR is the annual rate at which interest is charged on a balance that transferred from one credit card to another. Some credit cards offer low or no introductory balance transfer A... Read More »

What is a balance transfer fee?

A balance transfer fee is an amount imposed by a credit card company when you transfer a balance from one card to another. The fee may be a percentage of the amount transferred, usually between thr... Read More »