Balance Transfers | Credit Card Topics

12 Best Credit Cards to Transfer High Balances

By: Aaron Crowe, 3/31/2022

According to recent Federal Reserve data, American households carry an average credit card balance of just over $6,000, which can make the best credit cards to transfer high balances worthy of consideration. If you're not paying your balance off each month and are accruing hefty interest fees, these cards can help you save a lot of money and speed up your debt payoff efforts. And many of these cards offer great rewards programs that make them solid long-term additions to your wallet.... read more »

Are Balance Transfer Cards a Good Idea?

By: John Ulzheimer, 7/7/2021

Balance transfer credit cards are often touted as a solution that could help you get a handle on your credit card debt. The question is, as it often is with credit products, is opening a new credit card to pay off another one actually a good idea? Isn’t that just using debt to pay off debt? Everyone's debt situation is different, of course. Yet, in many cases, a balance transfer credit card can be a very useful tool to help you save money on interest, pay down credit card debt,... read more »

Balance Transfer Cards With High Limits in 2022

By: Adam West, 6/28/2021

You’ll need to find the right balance transfer cards with high limits if you want to affordably consolidate credit card debt. After all, a low limit will keep you from really getting to work on those existing balances. With the cards listed below, you can transfer your existing debt to the new account and take advantage of a promotional period with no interest on the amount you owe. The length of your balance transfer offer will depend on the card you qualify for. During this... read more »

Best 0% Balance Transfers For 18+ Months of 2022

By: Eric Bank, 6/7/2021

When the problem is too much credit card debt, the solution may be one of the credit cards with the best 0% balance transfers for 18+ months. These cards not only allow you to consolidate your credit card debt, but they also can save you a ton of money in interest expenses. And if you’re going to pay the fee to transfer balances anyway, you may as well get 18 months or more of no-interest payments. Keep reading to see which cards offer this money-saving benefit that can help... read more »

Best 0% Balance Transfer Credit Cards of 2022

By: Ashley Dull, 11/17/2020

With the best 0% balance transfer credit cards, you can tackle existing credit card debt or make a large purchase without taking on the burden of high finance charges and fees. This is one of the most popular promotional offers in the credit card industry because it allows consumers to save money and achieve certain financial goals at the same time. If you have a large purchase in your future or you currently have credit card debt that is stuck on a credit card with a high interest... read more »

What is a Balance Transfer Credit Card? 2022’s Top 0% Offers

By: Marcie Geffner, 7/16/2019

Maybe you've heard the term before, but you're still wondering to yourself, "What is a balance transfer credit card?" We'll explore this topic in the article that follows. A balance transfer credit card is a credit card that lets you transfer your existing balance to that card from another card. The primary purpose of a balance transfer is to take advantage of a low or 0% introductory annual percentage rate (APR) offer on the new card so you can pay off your balance faster and save... read more »

Best Credit Cards with No Interest For 12+ Months

By: Eric Bank, 5/31/2019

Fierce competition among credit card companies motivates them to appeal to the masses in several ways. One of their most potent marketing ploys is to offer no-interest borrowing and balance transfers for new cardmembers. Our experts have identified the best credit cards with no interest for at least one year. This can be especially useful if you want to charge a big-ticket item or consolidate your credit card balances. Read on to learn which cards give you the best interest-free... read more »

13 Best Credit Cards for Balance Transfers in 2022

By: Marcie Geffner, 4/5/2019

Many credit card companies offer incentives to encourage you to transfer a balance from another card. The most common incentives are no balance transfer fee and a 0% introductory annual percentage rate (APR) for a year or so if you make the transfer within a set time after you first get the card. If you normally carry a balance, transferring your debt from another card to one with a balance transfer incentive could help you manage that debt and pay it off sooner. When you shop for a... read more »

6 Best Credit Card Consolidation Loans

By: Brittney Mayer, 5/4/2018

In a lot of ways, collecting credit card debt can be like putting on weight. The problem builds slowly over time, largely unnoticed, until, one day, you find that you've outgrown your belt (or your credit card limit). Unfortunately, both losing weight and paying down debt can be a challenge, especially when compounded by other complications, such as a personal injury — or high credit card interest. For some consumers, credit card consolidation loans can be the cure for high... read more »

Balance Transfer Credit Cards for Fair Credit in 2022

By: Ashley Dull, 12/11/2017

When it comes to balance transfer credit cards, fair credit scores aren't necessarily the most desirable to credit card companies. But there are some options available -- read on for our top picks for credit cards that may work well for a fair credit rating. Imagine you are renting a storage unit for $50 a month. One day you find another company that will rent you a similar storage unit for $30 a month. Since it's obviously a better deal, you move the contents from the pricier... read more »

9 Best Credit Cards for Balance Transfers and Rewards

By: Ashley Dull, 9/22/2017

In the following article, we'll take a look at eight of the best credit cards for balance transfers and rewards, including 0% intro APR, cash back cards, miles, and points. As of June 2017, the average American household with credit card debt had a total revolving debt of $10,955. If each card with a balance charges the market average 16.7% interest rate, then the typical household will pay approximately $1,830 a year in interest on their credit card debt. Thankfully, those with... read more »

What is a Credit Card Balance? — Top 0% Transfer Offers

By: Ashley Dull, 9/6/2017

The word “balance” generally represents stability, whether referring to an equal distribution of weight or your mental well-being. This, of course, doesn't have quite the same meaning in regards to your credit card. So, what is a credit card balance? When you get a new credit card, you’ll receive a monthly statement summarizing the previous month’s purchases, even if there were none. In bold letters, usually somewhere near the top of the statement, you’ll see the word... read more »

6 Facts — How to Transfer Money From One Credit Card to Another

By: Brittney Mayer, 8/29/2017

If you're working toward minimizing -- and eventually eliminating -- your debt, you've come to the right place. In the article below, we'll take a look at how to transfer money from one credit card to another, which can save significant amounts in interest rates over time. In the first quarter of 2017, Americans repaid approximately $31.5 billion in credit card debt, according to WalletHub. However, given the $1 trillion of credit card debt still outstanding, your average cardholder is... read more »

15 Best Low-Interest Credit Cards — Compare 0% Intro Rates

By: Brittney Mayer, 7/12/2017

Low interest credit cards are important when it comes to those big purchases that may require you to carry a balance for a while. This article explores some of the top low interest cards on the market today. According to a 2018 survey on credit card ownership from Statista, more than half of the consumers from every age group over 18 reported using credit cards. Of those abstaining from card use, a common reason cited is the potential for accumulating debt. They have a fair point;... read more »

How to Transfer a Credit Card Balance + 10 Best 0% Offers

By: Linsey Knerl, 7/7/2017

If you’ve used credit cards for a significant amount of time, you’ve likely been presented with bigger and better card offers than what your current card gives you. One of these perks may be a credit card balance transfer offer. If used wisely, a transfer offer can lower your overall payment amount and improve your credit score. Transferring a card balance is not as difficult as you may think. In fact, I’ve used them successfully over the years to lower my debt and monthly... read more »

12 Best — Credit Card “Balance Transfer” Offers (0% Interest up to 18 Mo.)

By: Ashley Dull, 1/4/2017

The average American carries $4,717 of credit card debt with an interest rate around 15%. If you're one of these Americans and only pay the minimum payment each month, it’ll take you 10 years to pay your debt off. What's even scarier is you'll have paid $22,869 by the time it's said and done. There is a silver lining, though. A balance transfer credit card allows you to transfer your existing balance from one card to another that won’t charge interest on your transferred... read more »

How Do Balance Transfers Work?

By: Eric Bank, 6/22/2016

Perhaps you're looking for a way to reduce the amount you're paying out each month toward debts and you find yourself wondering, "How do balance transfers work?" If you're indebted to multiple lenders, oppressed by high interest rates, or simply looking to make your debt payments simpler, it could be worth it to make a balance transfer. This puts all your financial eggs in one basket, and can also give you a temporary reprieve from high interest rates. You've got to time it right,... read more »

If I Cancel My Credit Card Will The Interest Stop? (Learn How)

By: Ashley Dull, 11/12/2015

Perhaps your credit card bills are piling up faster than you can pay down the balance, and you're wondering "If I cancel my credit card will the interest stop?" By closing your credit card to save on interest charges, you’ve got the right idea but the wrong method. There are some things you need to know, which we'll cover in this article: No, interest doesn't stop when you cancel a card with a remaining balance. You can do a balance transfer to a card that will offer 0%... read more »

10 Best No-Interest “0% on Purchases” Credit Cards

By: Toby Sembower, 10/30/2015

Credit card issuers are known to offer a number of amazing perks to attract and retain new credit card customers — free air miles, cash back, you name it. One of the most underutilized of these perks is the "0% APR on purchases" feature offered by many of the top issuers. What does that perk mean exactly? A 0% on purchases introductory APR simply means when you make purchases on a card, the issuer will not begin accruing interest on those amounts until after a predetermined number... read more »

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