Q :? What is a balance transfer
A: A balance transfer is a term used to describe the action to transfer a balance from a card credit to another. For example, if you have two credit cards, each with a balance of $ 1000, and you decide to combine these balances on one card a card now have a $ 0 balance while the other card would have a 2000 balance $.
People often make balance transfers to take advantage of low APR rates and save money. By transferring your balance from a high APR card to a low (or 0%) map April you can save a considerable amount on the monthly interest charges. If you decide to transfer balances, make sure to check if there are balance transfer fees. Balance transfer fees are generally a fixed rate or a percentage of the amount you transfer. In some cases, the fees you have to pay to transfer the balance is greater than what you save low interest rates, so always do the math.
If you are in the market for a great balance transfer card with no balance transfer fees have a look at the Chase Slate MS - No balance transfer fee card. Not only it offers 15 months 0% introductory APR on purchases and balance transfers, but if you transfer your balances to that card within the first 30 days, you will not have to pay the balance transfer fee. Or consider the Discover® More - Limited Time No balance transfer fee card that also has no balance transfer fee with a 12 months, 0% APR on purchases and balance transfers. In addition, Discover more users can collect up to 5% cash back on their purchase.