One of the biggest draws of a balance transfer is the fact it doesn’t accrue interest, assuming the APR is set to 0%, which it often is. With a 0% interest rate, any balance associated won’t be charged any finance charges during the promotional period. This means the cardholder’s credit card balance does not grow,… Continue reading Do Balance Transfers Accrue Interest?
Author: Colin Robertson
Can You Do Multiple Balance Transfers?
Similar to applying for multiple credit cards, you might be wondering if it’s possible to execute multiple balance transfers in a short window of time. The good news is that yes, you can do multiple transfers in a small span of time, or even several in a single transaction if needed. In fact, when you… Continue reading Can You Do Multiple Balance Transfers?
What Happens to My Old Credit Card After the Balance Transfer?
There are lots of interesting balance transfer-related questions out there, and I just stumbled across one I haven’t touched upon. It has to do with the “old credit card” involved in the transaction, the card that should have a zero balance once you’ve completed your balance transfer. In short, a balance transfer involves two credit… Continue reading What Happens to My Old Credit Card After the Balance Transfer?
What Happens If You Don’t Pay Off Your Balance Transfer?
Most folks have a decent understanding of credit card balance transfers. If you don’t, read my primer for more info. Simply put, they allow you to move outstanding credit card balances from one credit card to another to save money. This is accomplished by moving the debt from a high-APR credit card to a 0%… Continue reading What Happens If You Don’t Pay Off Your Balance Transfer?
American Express Launches a No Fee Balance Transfer
A few years ago, I never thought I’d see the day, but alas, American Express now has a no fee balance transfer with 0% APR available! I assumed they’d be the least likely company to offer such as deal, seeing that they barely offered 0% APR on balance transfers on any of their cards with… Continue reading American Express Launches a No Fee Balance Transfer
Santander Ultimate Cash Back Card: An Interesting No Fee Offer
Well, Santander Bank is back with yet another interesting credit card balance transfer offer, though it might not be as good as their earlier Sphere Card offer. This one doesn’t even come with 0% APR, but they aren’t going to charge you a balance transfer fee if you make the request in the first 90… Continue reading Santander Ultimate Cash Back Card: An Interesting No Fee Offer
Barclaycard Ring Just Got Way Better: 0% APR and No Balance Transfer Fee!
Update: This offer is no longer available at 0% APR! Check Barclays website for current offer. For a while now, the only mainstream no fee credit card balance transfer offer came via Chase Slate, which for years now has offered 0% APR for 15 months on balance transfers with no fee. Sure, I compiled a… Continue reading Barclaycard Ring Just Got Way Better: 0% APR and No Balance Transfer Fee!
Discover Offering 0% APR for 21 Months on Balance Transfers
Discover has upped the ante, pushing their 0% intro APR period on balance transfers to a full 21 months, up from just 14 months previously. If you’re keeping track, that’s another seven months to enjoy no finance charges (interest) on your credit card debt. That could equate to a lot of savings depending on your… Continue reading Discover Offering 0% APR for 21 Months on Balance Transfers
How to Pay Off Holiday Debt with a Balance Transfer
Welp, the holidays have come and gone, and the Christmas tree is starting to brown, assuming it’s still even in the house and not out on the curb. The decorations are back in the garage and the in-laws are long gone (hopefully). But one thing seems to remain; your holiday debt. Yep, all those lovely… Continue reading How to Pay Off Holiday Debt with a Balance Transfer
Dollar Bank Low Rate Credit Card Charges 1% Balance Transfer Fee
If you’re looking for a cheap balance transfer option, and you happen to live in either Pennsylvania or Ohio, check out the Dollar Bank Low Rate Credit Card. The card, which features 0% APR on both purchases and balance transfers for the first six months, comes with a very attractive 1% balance transfer fee. That’s… Continue reading Dollar Bank Low Rate Credit Card Charges 1% Balance Transfer Fee