What is a balance transfer rate?

Answer A balance transfer rate is the amount a credit card company charges for moving the balance from one credit card to another. This could occur between cards owned by the same company or two different... Read More »

Top Q&A For: What is a balance transfer rate

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 »

Who has the best credit card balance transfer rate?

Determining which bank offers the best credit card balance transfer rate requires an understanding of how to define "best." Different consumers will define "best" differently based upon their perso... Read More »

Does it hurt your credit to open up a new card&transfer a balance to a lower rate?

It can sometimes be in your best financial interests to transfer a current credit card balance to a new credit card to take advantage of introductory interest rates. Opening a new account, however,... 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 »