What should I consider with a balance transfer card? - Reddit

It should say it I haven't really seen good companies do that though. But, if it was deferred interest you'd essentially collect interest on the balance and if not paid off then that interest gets added …

CouponFollow Extension

0%
OFF

Are Balance Transfers Worth It? : R/personalfinance - Reddit

1 week from now

However, if you transfer the balance in order to pay down your debt (hopefully pay off the debt completely), it's totally worth it because if you get a balance transfer card that charges 0% …

reddit.com

0%
OFF

Should I Accept This Balance Transfer Offer With Discover?

1 week from now

Jul 18, 2024 · You might consider applying for a new card with a 0% balance transfer offer if you can get one. (Needs to be from a different bank than the balance you want to transfer. They …

redditmedia.com

28%
OFF

Are Balance Transfers Worth It? Pros And Cons - Credit Karma

1 week from now

It can consolidate your payments You may be able to combine multiple credit card balances by transferring them to a balance transfer card. Once you consolidate your credit card debtonto one card, you can focus on one payment with one due date, instead of making several payments each month and having to kee… You can save money on interest A major benefit of doing a balance transferis the potential to save money on interest. It’s common to see credit cards with APRs of up to 28% or higher. Some balance transfer cards come with an introductory 0% APR for a set amount of time. That way the money you do put toward your deb…

creditkarma.com

3%
OFF

Pros And Cons Of Balance Transfer Credit Cards - USA TODAY

1 week from now

Jun 6, 2024 · Balance transfer fee: Most credit card issuers charge a balance transfer fee, often between 3%-5% of each amount you transfer to your new account. For example, if you …

usatoday.com

0%
OFF

Best Balance Transfer Cards Of November 2024 – Forbes Advisor

1 week from now

3 days ago · Here's Forbes Advisor's list of the best balance transfer credit cards with a 0% APR offer. ... it’s important to consider the pros and cons of balance transfer offers before opening …

forbes.com

3%
OFF

How To Transfer A Credit Card Balance In 8 Steps - Forbes

1 week from now

May 15, 2024 · Calculate the Balance Transfer Fee. Most balance transfer cards charge a balance transfer fee, usually 3% to 5% of the amount being transferred. Make sure you include …

forbes.com

3%
OFF

7 Balance Transfer Credit Card Mistakes, And How To Avoid Them

1 week from now

Aug 29, 2023 · Let’s say, for instance, that you transfer a balance of $10,000 to a card with a 3% balance transfer fee. That $300 fee would be added to your new credit card balance, making …

nerdwallet.com

0%
OFF

What Is A Balance Transfer? Should I Do One? - NerdWallet

1 week from now

Sep 25, 2024 · A balance transfer is a transaction in which you move debt from a high-interest credit card to a card with a lower interest rate, ideally one with a 0% introductory APR.

nerdwallet.com

0%
OFF

Balance Transfers: Benefits, Drawbacks And Alternatives

1 week from now

Nov 2, 2023 · A good balance transfer offer can save you a bundle on interest charges. If you moved high-interest debt to a credit card with an introductory 0% APR period on balance …

nerdwallet.com

0%
OFF

The Pros And Cons Of Balance Transfer Credit Cards

1 week from now

Mar 26, 2024 · WESTEND61/GETTY IMAGES. Several credit cards offer an introductory 0% interest rate on balance transfers, so if you've accrued a lot of debt on another card, you can …

thepointsguy.com

FAQs about What should I consider with a balance transfer card? - Reddit Coupon?

Is a balance transfer credit card a good idea?

Some balance transfer credit cards come with an introductory 0% APR offer for a set number of months and most balance transfer cards will charge a fee to transfer the debt over. So, this can be a great option, but if you’re not careful or aware of the potential drawbacks, you could wind up with even more debt. ...

How do I choose a balance transfer credit card?

Since the ultimate purpose of a balance transfer is to save money, you want to choose a card that minimizes your costs as much as possible. The "perfect" balance transfer credit card comes with three big zeroes: A 0% introductory APR offer for balance transfers. A $0 annual fee. A $0 balance transfer fee (or a way to avoid paying such a fee). ...

Are balance transfers a good idea?

Balance transfers are a lesser-known and potentially underutilized aspect of some credit cards. They allow you to move debt from a high-interest card to another with a much lower annual percentage rate — even as low as 0% APR. But what are the pros and cons of balance transfers, and should you rely on them to save money? ...

Does a balance transfer cost a credit card?

Transferring a balance might incur a fee (3% of the amount transferred, on averge), but can avoid that by opting for a no balance transfer fee credit card. Opening a new card to transfer your balance to will result in a small drop in your credit score. What Is A Balance Transfer? How Do Balance Transfers Work? Is a Balance Transfer Worth It? ...

Are You a good candidate for a balance transfer card?

It’s in your best interest to make sure you’re a good candidate for a balance transfer ahead of your decision. “A good candidate for a balance transfer card is someone with a good to excellent credit score who is eligible for cards with the best terms and rates,” Latham says. ...

Can I make new purchases with a balance transfer card?

Do not make any new purchases with the balance transfer card. Your payments will go toward the balance transfer, and any new purchases will accumulate interest charges in the meantime at the normal interest rate (i.e. 15%+). This is the biggest “gotcha” and as long as you avoid this there really isn’t any downside other than the 3% fee. ...