Yahoo Canada Web Search

Search results

1. • • If a balance transfer saves you money in the long run, it's a good move. Balance transfers are best for debt that would otherwise take several months (or more) to pay off. If you'd only need a couple of months to pay off your balance even without a transfer, you'll probably be better off leaving it on the current card.
     www.nerdwallet.com/article/credit-cards/what-is-a-balance-transfer

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

2. www.creditkarma.com › credit-cards › iAre balance transfers worth it? Pros and cons - Credit Karma

   www.creditkarma.com › credit-cards › i

   • Cached

   Aug 26, 2024 · Depending on the card you get approved for, you may be able to move your debt to a credit card that has a lower interest rate and more favorable terms. You may even be able to find a balance transfer card that offers perks that can earn you rewards.

3. www.forbes.com › advisor › caThe Pros And Cons Of Balance Transfer Credit Cards

   www.forbes.com › advisor › ca

   • Cached

   Before applying for a credit card with an introductory 0% rate on balance transfers, consider the pros and cons in order to determine if a balance transfer is the right move for you. Featured...

   • Author: Sebastian Obando

4. Videos

   • 

     14:19

     youtube.com

     Balance Transfer Cards 101: Everything You Need to Know

     Apr 2, 2020

     246.2K Views

   • 

     13:57

     youtube.com

     Balance Transfer Cards 101: Everything You Need to Know

     Mar 27, 2021

     124.7K Views

   • 

     3:34

     youtube.com

     Balance Transfer Credit Cards: What You Need To Know

     Sep 30, 2020

     287.6K Views

   View all

5. www.nerdwallet.com › what-is-a-balance-transferWhat Is a Balance Transfer? Should I Do One? - NerdWallet

   www.nerdwallet.com › what-is-a-balance-transfer

   • Cached

   Sep 25, 2024 · A balance transfer can save you money by moving your debt from a high-interest credit card to one with a lower APR. Learn how they work, and find a card that fits your needs.

   • Video Duration: 4 min

6. thepointsguy.com › credit-cards › pros-cons-balanceThe pros and cons of balance transfer credit cards

   thepointsguy.com › credit-cards › pros-cons-balance

   • Cached

   Mar 26, 2024 · Balance transfer credit cards help you save money by allowing you to move debt from a high-interest credit card to one that charges as little as 0% APR for 12 months or longer. They can also help you consolidate your debt into a single payment if you owe money on multiple cards.

7. www.nerdwallet.com › article › credit-cards7 Balance Transfer Credit Card Mistakes, and How to Avoid ...

   www.nerdwallet.com › article › credit-cards

   • Cached

   • Video Duration: 1 min

   • Trying to transfer a balance between cards with the same issuer. Credit card issuers earn money, in part, on the interest consumers pay. When they offer low introductory interest rates, such as the 0% APR offers available on many balance transfer credit cards, that presents a loss to the company on profits from interest, in exchange for gaining new business.
   • Missing the balance transfer deadline. Many balance transfer credit cards have a deadline for completing the transfer — usually somewhere between 30 and 120 days after the account is opened — in order to qualify for the card’s low introductory APR offer.
   • Not taking into account the balance transfer fee. A balance transfer credit card can save money on interest, but it’s not without cost. In most cases, the amount you move over will be subject to a balance transfer fee — typically 3% to 5% of the total amount transferred.
   • Overestimating how much debt can be transferred. Just like other credit cards, balance transfer credit cards come with a credit limit, and that limit will dictate the size of balance that you can transfer.

8. www.investopedia.com › ask › answersPaying Off Debt With a Balance Transfer - Investopedia

   www.investopedia.com › ask › answers

   • Cached

   May 21, 2024 · A balance transfer involves moving an existing debt balance from one vehicle to another. Borrowers can do this between loans and credit cards. Balance transfers can be an effective way to pay...

9. People also ask

   Can you transfer credit card debt?

   • Pay down the balance. When that balance is added to the new card, you’ll be responsible for making monthly payments on that account. And if you pay it down during the introductory 0% APR period, for example, you could potentially save a bundle. Credit card debt isn't the only type of debt you can transfer.

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

   www.nerdwallet.com/article/credit-cards/what-is-a-balance-transfer

   See all results for this question

   Can a credit card balance transfer help you pay off debt?

   • One thing to consider is a balance transfer. A balance transfer is the process of transferring debt from one credit card to another credit card, usually to one with a lower interest rate. This doesn’t get rid of your debt but it may help you save money on interest or possibly pay off the debt quicker.

   Are balance transfers worth it? Pros and cons - Credit Karma

   www.creditkarma.com/credit-cards/i/balance-transfer-pros-cons

   See all results for this question

   Should I move my debt to a balance transfer card?

   • However, if you move your debt to a balance transfer card with a lower APR (annual percentage rate) or a 0% APR offer, you can make progress on paying off your debt and eventually knock out that obligation for good. That’s because you’re paying less interest, so more of your payments can go toward your principal balance.

   How To Do A Balance Transfer In 8 Steps - Forbes

   www.forbes.com/advisor/ca/credit-cards/how-to-do-a-balance-transfer/

   See all results for this question

   Should I transfer my balance from one credit card to another?

   • Transferring your balance from one debt vehicle to another can save you money and help you pay off your debt faster. Some credit cards have promotional periods when they charge low or even 0% interest on your transferred balance. Some lenders charge balance transfer fees, which can cost you more money.

   Paying Off Debt With a Balance Transfer - Investopedia

   www.investopedia.com/ask/answers/111714/when-balance-transfer-good-idea-paying-debt.asp

   See all results for this question

   Is a credit card balance transfer a good idea?

   • Carrying debt on a credit card is usually expensive, even if you're making your payments every month without fail. If a balance transfer saves you money in the long run, it's a good move. Balance transfers are best for debt that would otherwise take several months (or more) to pay off.

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

   www.nerdwallet.com/article/credit-cards/what-is-a-balance-transfer

   See all results for this question

   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?

   The pros and cons of balance transfer credit cards

   thepointsguy.com/credit-cards/pros-cons-balance-transfer-credit-cards/

   See all results for this question

10. www.forbes.com › how-to-do-a-balance-transferHow To Do A Balance Transfer In 8 Steps - Forbes

    www.forbes.com › how-to-do-a-balance-transfer

    • Cached

    Jul 23, 2024 · Should I Do a Balance Transfer? 1. Review Your Existing Debt. 2. Decide Where to Transfer Debt. 3. Review the Offers on Other Cards. 4. Compare Your Top Picks. 5. Apply for the New Card....