What should I know about balance transfers?

Answer Transferring a balance from a high-interest credit card account may seem appealing, especially if the new card offers a much lower rate. However, it is important to be aware of the pitfalls of bal... Read More »

Top Q&A For: What should I know about balance transfers

Define Balance Transfers?

A balance transfer constitutes the movement of a debt from one credit card to another. If you owe money on your current card, you may receive an offer from another card company to pay off the balan... Read More »

How do balance transfers affect credit rating?

Transferring your credit card debt from a high-interest rate card to a low-interest rate card seems like a winning proposition. It can be, especially if you play your cards right.ProcessWhen you ma... Read More »

Effect of Balance Transfers on Credit Score?

Balance transfers are one way to consolidate debt and lower interest payments. They can also affect several components that are used in determining your credit score. This score is an indication to... Read More »

Can balance transfers be used for another person's account?

It is possible to transfer balances for another person's account. Typically, credit cards that allow balance transfers issue blank checks that can be used for a variety of purposes including transf... Read More »