How Credit Card Balance Transfers Work
Moving outstanding debt on one credit card to another card—usually a new one—is a balance transfer. Credit card balance transfers are typically used by consumers who want to move the amount they owe to a credit card with a significantly lower promotional interest rate and better benefits, such as a rewards program to earn cash back or points for everyday spending. What is a balance transfer credit card?Some credit card companies waive balance transfer fees (which typically range 3%–5% of the transfer amount) to entice cardholders. Often, they might also offer a promotional or introductory period of six to about 18 months where no interest is charged on the transferred sum. Click on the link to know more about the credit cards balance transfer works: https://bumppy.com/tm/read-blog/50849_your-guide-to-balance-transfer-credit-card.html
